Summary
Greggs, a well-known UK bakery chain, will raise its prices for the third time this year due to increasing costs, particularly from higher staffing expenses like National Insurance. Despite the higher costs, Greggs plans to continue expanding its number of stores and sees opportunities for growth in various locations across the UK.
Key Facts
- Greggs will increase prices for some items starting tomorrow, including breakfast meal deals, which will rise by 20p.
- This price increase is primarily due to higher staffing costs, including a £20 million unexpected increase in National Insurance.
- It is the third time Greggs has raised its product prices this year.
- Despite price increases, Greggs will continue opening new shops, with plans for 120 new sites by 2025.
- The popular sausage roll price will stay the same for now, as it was already increased earlier this year.
- Greggs has over 3,000 shops in the UK and plans further expansion, especially in southern England and retail parks.
- The company expects some cost pressures to ease next year but is cautious about potential changes in the upcoming government Budget.
- Sales fell during a summer heatwave but improved in August and September, with an overall year-to-date sales increase of 6.7% compared to last year.
