Greggs has refused to rule out that its prices will rise in the wake of inflation and due to rising cost pressures.
The cost of sausage rolls, steak bakes, and Yum Yums could soon be hiked after the much-loved bakery chain – which has hundreds of branches across the city centre, and throughout the Greater Manchester region – explained that its profit growth will be squeezed this year and used the publication of its annual results for 2021 to limit the expectations of both customers and investors.
2021 was a record profit year for Greggs after the previous year was greatly impacted by the COVID-19 pandemic.
But CEO Roger Whiteside has now said that while like-for-like sales growth during the first nine weeks of 2022 were 3.7% ahead of 2020 levels, he warned that the outlook for many commodity costs still “remains uncertain”.
“We have started 2022 well, helped by the easing of restrictions,” Mr Whiteside said.
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“But cost pressures are currently more significant than our initial expectations and, as ever, we will work to mitigate the impact of this on customers, however given this dynamic, we do not currently expect material profit progression in the year ahead.”
Greggs says it’s expecting an overall cost inflation of 6% to 7% this year, which is mainly from raw materials, energy, and staff wages.
Because of this expectation, this has prompted the company to put up some prices at the start of this year – with a spokesperson confirming Greggs had raised its prices by a “few pennies”, adding 5p to the price of some products – and further changes are “expected to be necessary”.
Mr Whitehouse not only pointed to the fact that commodity pricing was already rising at the back end of 2021 as the world started to move out of pandemic, but now, Russia’s invasion of Ukraine has exacerbated the situation even further, as both countries are huge producers of commodities such as wheat, corn, and sunflower oil.
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The nationwide bakery chain says it’s expecting an overall cost inflation of 6% to 7% this year / Credit: Greggs
It’s understood, however, that if Greggs does raises prices further this year, the company would still be looking to remain competitive.
Although Greggs is at this moment unable to confirm if prices will rise further in the future, and whether customers will have to fork out more for their bacon butty in the morning, Mr Whiteside has said there were no current plans for fresh increases, adding: “We’re going to have to keep it under review in the balance of the year.”
“[We’ll] see how the market develops,” he concluded.
Liam Gallagher says he’ll ‘gig in Lidl’ if Co-op Live still isn’t ready – and they sound pretty game for it
Danny Jones
Following the ongoing palaver with Co-op Live, Liam Gallagher has joked that he’d happily play his scheduled gigs in a Lidl if the arena still isn’t ready – at least we think he’s joking…
With Liam Gallagher having been named as one of the first acts booked to play Co-op Live last year, many are now wondering whether the venue will even by June, with the former Oasis frontman set to play four Definitely Maybe 30th-anniversary sets. That being said, he’s come up with a solution if not.
Turns out Liam Gallagher isn’t an Aldi man, he’s team Lidl.
Vintage LG, we’ll give him that.
Obviously a bit of a tongue-in-cheek quip at the venue being sponsored by a supermarket and convenience store chain, it could have been any other competitor that the ever-witty youngest Gallagher brother picked but it somehow made it extra funny that he chose a budget brand like Lidl.
However, with the 51-year-old already having fun with stunts like voicing the tannoys on the Metrolink last year, for instance, we wouldn’t put it past him to take this joke a little further.
Better still, not that we’re getting carried away or anything but Lidl themselves seem pretty keen on the idea too; they even spent the time to build an entire setlist for the fictional show. Fair play.
Liam Gallagher @ Lidl Arena – Setlist:
– Lidl by Lidl – Champagne Superoffer – Super(market) Sonic – The Importance of Being Lidl – Tiger Roll With It – Don’t Look Back in Hanger – Some Might Save
Can you imagine? Liam Gallagher swapping the occasional tambourine shake for beeps from a barcode scanner as he moves back and forth on the conveyor belt. We know it’s absolute nonsense and we definitely shouldn’t be even remotely considering it… BUT it’s the stuff of dreams and strange things have happened.
A lot of stranger things have happened this week alone. As for the latest with Co-op Live, the Chairman and CEO of key-backers Oak View Group, Tim Leiweke, issued a full statement sharing his “sincere apologies”and insisting that they understand “there is work to be done to rebuild your trust in us.”
With the likes of Olivia Rodrigo, Peter Kay, The Black Keys and more having their gigs pulled by the venue due to numerous issues, including an air conditioning unit falling from the ceiling, fans are understandably fearful that other upcoming events could face delays or general misfortune.
Much like the venue itself, we imagine we’ll be playing catch-up on this whole saga for the foreseeable, but here’s a recap of the story so far:
Featured Images — Lidl GB/Exit Festival (via Flickr)/The Manc Group
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Gavin and Stacey will return with a 2024 Christmas special for its final episode
Danny Jones
After some pretty big rumblings earlier this year, it’s finally been confirmed that Gavin and Stacey will be returning for a Christmas special this year and what will be its last-ever episode.
The beloved British comedy last aired back in 2019 with their previous Christmas special and fans of the show have been crying out for more ever since.
Well, it turns out they’ll be getting just one more go around the block as co-creators James Corden and Ruth Jones revealed that they have now finished writing their third and final Xmas special which will tie a festive bow on the trio of series which started all the way back in 2007.
Sharing a picture of the script on social media, the pair wrote: “Some news… It’s official!!! We have finished writing the last ever episode of Gavin and Stacey. See you on Christmas Day, BBC One. Love Ruth and James”.
However, what was actually going on was a bit of a red herring as she carefully chose to talk down any notions of another series but didn’t categorically dismiss the potential Christmas special.
In fact, she actually went on to add: “All I can say is, if there was something to say on that front, James [Corden] and I would happily announce it, we would.”
And that’s exactly what they’ve done. Well played, Nessa.
As for details surrounding the final chapter in the Gavin and Stacey story, we have very few details at this stage but fans of the iconic show will already be wondering how they might pick up from where certain threads left off.
Production companies Baby Cow, Corden’s Fulwell 73 and Jones’ Tidy Productions are all behind the special and, given the momentous occasion, it will likely have a primetime slot on the TV guide when it finally rolls around this holiday season.
So get your remotes, baubles and bhunas at the ready because Gavin and Stacey is coming back for one last time and it’s sure to be a TV event that people all across the UK will remember for years to come.