A keen focus on meal deals, healthy food to go options and service has helped Greggs achieve an “exceptional” set of full year results.
Total sales for the 53 weeks to 3 January were up 5.5% to £804m while like for like sales grew by 4.5%. Coffee sales, a key area of focus for the business in 2015, also grew to reach £1m a week.
Strong growth was also delivered by Greggs’ new ‘Balanced Choice’ range of products with fewer than 400 calories, with sales reaching £55m in the year. The range was supported by the addition of a number of new food to go products including fresh soups and hot sandwiches.
In line with the value for money trend, the company also renewed its focus on meal deals, extending the range of sandwiches in its £3 sandwich meal deal and introducing a new meal deal offering coffee and any sweet item for £2.
Greggs also focused on improving customer service in stores by increasing staff hours to improve availability at peak times and opening for longer where necessary.
More than 210 store refits were carried out in 2014 while 50 new stores were opened, bringing its total estate to 1,650. Around 100 new stores are also set to open in 2015 as it works towards its long-term target of more than 2,000 UK stores.
Greggs chief executive Roger Whiteside said: “2014 was a year of significant change and an exceptional step up in performance for Greggs. We have improved both our food offer and the shop experience for customers. Market conditions have been more favourable and like-for-like sales have grown throughout the year.
”This has resulted in record underlying profits for the financial year. Overall we are confident of delivering a further year of good growth and progress against our strategic plan in 2015.”