Greggs Announces Major Bonus for Staff as Profits Surge

The bakery chain plans to expand further in 2024, buoyed by a strong financial performance and reduced cost pressures.

About 25,000 Greggs workers to receive a £17.6 million bonus after the company reported a 27% increase in annual profits, with pre-tax profits reaching £188.3 million in 2023.
Greggs plans to open between 140 to 160 new shops in 2024, following a record 220 openings in 2023, as part of its strategy to double sales over five years.
The bakery chain's sales growth has slowed in early 2024, with comparable store sales growth at 8.2%, but remains confident in delivering another year of progress.
Inflationary pressures are reducing, and Greggs has improved visibility of costs for the coming year, expecting its own cost inflation to be between 4% and 5%.
Greggs' market share is at an all-time high, with the company now holding the top spot for breakfast, driven by its value offering and expansion into evening trade and food delivery.