Greggs to open 150 shops and extend opening hours

Greggs plans to open around 150 new bakeries in 2023 as part of major plans to expand.

The firm, which opened its first shop in Newcastle in 1951, also plans to extend the opening hours of some outlets and test 24-hour drive-thrus.

It comes after the chain posted bumper profits for 2022, despite cost of living pressures hitting consumers.

The bakery chain has put up its prices several times in the last few years due to rising costs.

Under the new plans Greggs, which currently has around 2,300 shops, aims to open more branches in airports, train stations, supermarkets and shopping centres.

It also said it hoped to grow its total number of bakeries to over 3,000 in the coming years.

The chain - which made profits of £148.3m last year - put its growth down to the "value" it was offering customers impacted by the rising cost of living.

Inflation - the rate at which prices rise - is near a 40-year-high, forcing many consumers to cut back their spending or find way ways to cut costs.

As a result, the chain's prices rose in 2022 and 2023. In January it increased the price of a sausage roll from £1.15 to £1.20 - the fourth price rise since 2021 when the snack cost £1.

As well as opening 150 new shops, Greggs said it would refurbish another 150 and relocate 40 of its shops to larger sites.

Last year, the opening hours of 500 shops were extended until 20:00 or later and in 2023, Greggs said it planned to extend hours in 300 shops to 21:00.

Greggs was first founded by John Gregg in the late 1930s when he began delivering yeast, eggs and confectionary on his bicycle to homes around mining terraces in Newcastle.

The company then opened its first shop on Gosforth High Street in 1951 and the firm has gone onto to become a well-known brand.

It is not alone in its expansion plans, with Starbucks announcing on Monday plans to open 100 new stores across the UK this year.