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.
Home Bargains has announced a special two-day closure of all UK stores
Emily Sergeant
Home Bargains has, once again, announced it’ll be closing all its UK stores on both Boxing Day and New Year’s Day this year.
And it’s to make sure staff get a ‘well deserved break’.
After what has been yet another busy year for the retail industry, many workers have been left feeling like they could do with a little extra time off, which is why Home Bargains is following on with what has become a now-annual tradition by shutting up shop on two bank holidays.
All of our stores will be closing for Boxing Day & New Years Day.
Announcing the move in a post on social media, the discount retailer confirmed: “All of our stores will be closing for Boxing Day and New Years Day. We would like to thank all our colleagues for how hard you have worked this past year, and want you to relax and enjoy the Christmas break with your loved ones.”
Of course, this isn’t the first time the retailer has kept its doors shut on bank holidays.
Many shoppers will recall it has made the same decision to give hardworking staff a break every year since 2019.
Explaining a little more about the decision taken to close all its stores, Home Bargains said: “As a family-run business, we know the importance of being together at Christmas with those we care about most, now more than ever.
“This is our way of saying thank you to our colleagues for their continued hard work and dedication.”
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Two Greggs in Manchester will be serving their breakfast menu in the evening next week
Emily Sergeant
Who says breakfast has to end at 11am?
In news that’s set to be music to the ears of breakfast lovers in Manchester, Greggs is giving them exactly what they want.
We all know that brunch is a ‘thing’ by now, so now it’s time for brinner to make a name for itself instead, as Greggs has teamed up with Heinz to bring its much-loved breakfast menu back for tea time, kicking off from 4pm onwards.
The move comes as a new survey has found that the majority of Mancs (69%) admit to enjoying eating breakfast food in the evening, saying it’s ‘convenient and comforting’ – even ranking breakfast as a ‘more important’ meal than tea, as well (38% vs 36%).
Two Greggs in Manchester will be serving their breakfast menu in the evening next week / Credit: Greggs (Supplied)
Greggs says it has ‘lost count’ of the amount of customers that have tried to order breakfast items after the usual cut-off time, especially in Greater Manchester.
But luckily for those breakfast-loving Mancs, they can finally get their favourite breakfast and sauce pairing long after the morning rush is over next… but only at two Greggs branches, and only for a very limited time.
On Wednesday 14 and Thursday 15 October, the Heinz x Greggs Brinner collab will be available at Greggs St Mary’s Gate and Greggs Oxford Road, from 4-7pm only.
“We’ve lost count of the number of customers who have tried their luck ordering breakfast after 11am, so when Heinz came to us with the idea of making Brinner a reality, it felt like the perfect excuse to give the people what they want,” explained Zoe Harris, who is the Customer Director at Greggs.
“And let’s be honest, a Greggs Bacon Roll just wouldn’t be the same without a squeeze of Heinz Tomato Ketchup.”
Emily Sergeant -
8th March 2022 
