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 has refused to rule out that its prices will rise further in 2022 / Credit: Greggs
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.
Channel 4 needs adult virgins with ‘intimacy issues’ for next series of hit reality show
Emily Sergeant
Channel 4 is back looking for more adult virgins to take part in the potential next series of its hit reality show Virgin Island.
If you’re unfamiliar with Virgin Island, it’s unlike anything ever seen on TV before.
First hitting screens back in 2024 and having run for two successful seasons now, Virgin Island follows the journey of a group of adult virgins who are whisked off to a Mediterranean island retreat to learn life-changing skills in the art of intimacy.
Working with leading international therapists, the aim is to help the young people overcome their fears and insecurities when it comes to intimacy and sex.
Channel 4 said it chose to commission the show after a recent study into intimacy found out that one in eight British 26-year-olds is, apparently, still a virgin.
A casting call for the new series on the Channel 4 website reads: “Are you a virgin and do you need help and guidance with your fears and insecurities around intimacy and sex? Double Act Productions is casting adults for a potential second series of Virgin Island.”
You just need to be over 21 years of age to take part in the show.
Fancy it then? Or know someone who may be up for the ride? Applications for the potential next series of Virgin Island are now open, and there’s still plenty of time left to put your name down.
You can find out more and register your interest here.
Featured Image – Channel 4
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Pep Guardiola in talks over first international management role
Danny Jones
Football icon and Manchester City legend Pep Guardiola is reportedly set for his first job since leaving the Etihad Stadium, as the Catalan head coach looks like he could be set to make his move into international management.
The generational manager, who has undoubtedly become one of, if not the greatest of all time, left Man City at the end of last season after a decade in East Manchester.
Stepping away from the sky blue side with 20 trophies in 10 years, he’s won pretty much everything there is to win – at least at club level, anyway.
With that in mind, multiple outlets are now claiming that Guardiola is getting ready to make his debut on the international circuit, already being heavily linked with a role as part of ‘gli Azzurri’.
EXCLUSIVE: The FIGC has met with Pep Guardiola to convince him to take over as national team head coach, according to Sky in Italy 🚨🇮🇹 pic.twitter.com/qmzjunjur4
Yes, as per Sky News’ sporting arm over in Italy, Pep is now rumoured to be the next person to take the job in their national team, which would be his first proper senior position in international football.
According to Sky, the Italian Football Federation (FIGC) have already held meetings with the former Barcelona, Bayern Munich and City boss.
It remains unclear how advanced talks and/or negotiations have progressed up to this point, but it is said that fellow footballing veteran and AC Milan legend turned FIGC technical director, Paolo Maldini, has already travelled to meet the 55-year-old.
Believed to have been joined by former teammate and right-hand man Leonardo Araújo – who previously served as director at PSG – it looks to be more a case of whether Pep wants the job rather than if Italy want him.
From announcing a documentary series covering his final season at Man City, to even launching a dedicated ‘Decade of Pep’ fashion collection, it’s fair to say that both the club and the fan base are bidding a bittersweet goodbye.
Pep has already made it clear that he can’t see himself ever managing the Spanish national team, remarking: “I am a Catalan. I don’t see myself ever managing Spain.”
Meanwhile, other names rumoured as options for the Italian manager’s job include Andrea Pirlo and a return by fellow ex-MCFC boss, Roberto Mancini. Can you see Pep pipping any of these to the post?
As for his former club and ‘second home’, Cityzens will be glad to hear that while it may be all change over at the Etihad Campus, there is plenty to be hopeful about – including some steps more in the right direction when it comes to tickets.
Emily Sergeant -
8th March 2022 
