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London CNN — - 1 Greggs - 1 Ireland — - 1 McDonald’s - 1 Roisin Currie - 1 “ Greggs - 1 ” Matt Britzman - 1 Hargreaves Lansdown - 1
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☆ Greggs overtakes McDonald’s to become king of the British breakfast
  + stars: | 2024-03-05 | by ( Anna Cooban | ) edition.cnn.com   time to read: +3 min
Brits are going crazy for the bacon and sausage buns offered by Greggs, an 85-year-old chain of budget bakeries that just posted its best-ever performance. Pre-tax profit also jumped more than 13% last year to a record high of nearly £168 million ($213 million). Greggs’ breakfast meal deal — which includes a sausage, bacon or omelette-filled bun and a drink — starts at £2.85 ($3.62), and is particularly popular with customers, a company spokesperson told CNN. Sales grew to a record £1.8 billion ($2.3 billion) last year, up from £1.2 billion ($1.5 billion) in 2021. Greggs café, Tasty by Greggs, inside Primark's Oxford Street store in London in October 2022.
Persons: London CNN —, Greggs, Ireland —, McDonald’s, Roisin Currie, “ Greggs, ” Matt Britzman, Hargreaves Lansdown, Greggs café, John Nguyen, benedict — Greggs Benedict, Still, Alex Morton Organizations: London CNN, Ireland, CNN, Press Association, AP Locations: United Kingdom, Newcastle, England, London, Fenwick
☆ Baker Greggs sees more growth as Britons 'seek value'
  + stars: | 2023-03-07 | by ( Sarah Young | ) www.reuters.com   time to read: +2 min
"Customers are seeking out value and therefore they're coming to Greggs," Currie, who has been chief executive since last May, said in an interview on Tuesday. For 2022, Greggs posted pretax profit of 148.3 million pounds ($178.6 million), in line with analysts' forecasts, on total sales which came in 23% higher. Greggs is comfortable with a consensus forecast for 2023 profit of 161 million pounds. "Greggs has demonstrated impressive resilience in 2022 with continued strong like-for-like sales growth throughout the year," Goodbody analysts said. ($1 = 0.8306 pounds)Reporting by Sarah Young, Editing by Paul Sandle and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.
☆ British baker Greggs warns of ongoing inflation challenge
  + stars: | 2023-03-07 | by ( ) www.reuters.com   time to read: +1 min
LONDON, March 7 (Reuters) - Britain's popular baker and fast food chain Greggs (GRG.L) warned that high inflation would continue to be a challenge this year, but said it was confident its value offer of sausage rolls, steak bakes and pizza would help drive growth. For 2022, Greggs posted pretax profit of 148.3 million pounds ($178.6 million), in line with analysts' forecasts, on total sales which rose 23% to 1.51 billion pounds. Profit was held back by rises in the prices of ingredients, energy and labour, with cost inflation totalling about 9% over the year, said Greggs, which trades from over 2,300 shops across Britain. "Although consumer incomes remain under pressure, Greggs continues to offer exceptional value to people looking for great tasting, high-quality food and drink on-the-go," she said in a statement on Tuesday. ($1 = 0.8306 pounds)Reporting by Sarah Young, Editing by Paul SandleOur Standards: The Thomson Reuters Trust Principles.
☆ Festive bakes and salted caramel lattes boost Greggs' Christmas
  + stars: | 2023-01-05 | by ( Paul Sandle | ) www.reuters.com   time to read: +2 min
SummarySummary Companies Christmas quarter like-for-like sales rise 18.2%Value offers and seasonal favourites appealSticks to full-year profit guidanceLONDON, Jan 5 (Reuters) - Greggs (GRG.L) said its Festive Bakes, mince pies and salted caramel lattes, along with breakfast and lunch offers, appealed to cash-strapped Christmas shoppers, helping like-for-like sales rise 18.2% in the final quarter. However it stuck to its forecast of limited profit growth for the year, reflecting higher costs for energy, ingredients and staff. Chief Executive Roisin Currie said cost inflation would continue to be "material" in 2023, but she was confident Greggs would continue to make progress. Greggs has widened its menu to include more vegan options as well as new drinks and hot options. She said Greggs would keep working to mitigate the impact of rising costs this year after a "tough" 2022 for consumers.
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