Buoyant Greggs aims to roll out more stores

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Chief executive Ken McMeikan intends to correct this injustice, today unveiling plans to open another 90 stores this year.

He presently has 1,571 across Britain of which 199 are in London.

That's after opening 98 last year, a rapid pace of expansion that shall continue. Greggs is growing both on the high street and at industrial and retail parks. It is also targeting football clubs -- it is already at Pride Park, the home of Derby County.

"We have very clear growth plans for Greggs. There are more and more shop units available at cheaper rates," said McMeikan.

He was talking as Greggs unveiled storming Christmas trading.

In the five weeks to 7 January, sales were up 10.8% in all and 5.1% on a like-for-like basis.
Sales growth in the London stores was even better, says McMeikan. "We had a fantastic Christmas. We could not have asked for better."

He has a target of 2000 shops in all. "As we get closer to that target, it might be time to revise it upwards," he added.

A coffee shop branded Greggs Moment has opening in Newcastle, a trial that will be expanded if successful.

The cost of key ingredients such as sugar and pork is likely to keep rising, the baker warns, but is hopes to keep price increases in the stores to a minimum.

The shares moved up 1.5p to 520p, at which price the company is valued at £526 million.