Greggs is to speed up plans to open new shops throughout the UK regardless of warning that it has been impacted by some disruption to staffing and the availability of substances.
It got here because the bakery chain lifted its revenue outlook for the 12 months after surpassing pre-pandemic gross sales.
The corporate, which has greater than 2,100 outlets, mentioned it has “not been immune” to well-publicised provide chain pressures affecting the UK’s meals and drinks companies.
It instructed shareholders on Tuesday morning that it has “seen some disruption to the provision of labour and provide of substances and merchandise in current months”.
Greggs additionally cautioned that it expects prices to climb on the finish of 2021 and into subsequent 12 months.
“Meals enter inflation pressures are additionally rising – while we have now short-term safety on account of our ahead shopping for positions we count on prices to extend in the direction of the top of 2021 and into 2022,” the retail group mentioned.
“Operational price management has been good and the sturdy gross sales efficiency within the third quarter provides us confidence as we transfer into the autumn.”
The chain revealed that like-for-like gross sales elevated by 3.5% within the third quarter of the 12 months, in opposition to the identical interval from 2019.
It mentioned its full-year efficiency is subsequently anticipated surpass the corporate’s earlier expectations.
Greggs has elevated its retailer property by 68 shops because the begin of the 12 months and mentioned it expects to have expanded by round 100 outlets in 2021.
The steak bake maker mentioned it would speed up its opening programme subsequent 12 months, with round 150 internet openings deliberate because it pushes in the direction of its long-term aim of three,000 shops throughout the nation.
It mentioned it additionally has bold plans to double its turnover to round £2.4 billion within the subsequent 5 years, because it seeks to develop its supply and night operations additional.