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Ken McMeikan, chief executive of Greggs today ratcheted up expansion plans for the High Street baker as he said the recession was proving how much people wanted its fresh but good-value food.
He plans to double the rate of new store openings to 70 a year over the next three years. At the same time he will spend more on the supply chain including replacing the bakery in Twickenham. McMeikan, who worked for Sainsbury's chief executive Justin King until last year, said: “I am pleased with our sales performance against the background of tough High Street trading.”
Greggs' sales for the 42 weeks to last Saturday were up 1% on a same-store basis and 3.8% including new stores. The full-year outcome still depends on the run-up to Christmas as Greggs is the country's biggest seller of mince pies, shifting more than five million every year.
