Greggs Bakery, the beloved high street food chain, is hitting notable milestones as it expands its presence across the UK, even as it approaches some challenging market conditions. This week, the company announced exciting plans to open new outlets and refurbish existing ones, showcasing its commitment to growth and modernization.
Two new tenants are set to join the lineup at the popular Junction Retail and Leisure Park in Co Antrim—Greggs and Pure Gym. With over 2,600 stores across the UK, Greggs will establish itself with a 2,000 square foot outlet at the site, bringing fresh employment opportunities to the local area.
Gillian Long, Retail Operations Director at Greggs, expressed enthusiasm about this expansion. "We’re looking forward to welcoming Greggs fans and new customers alike to our brand-new shop. We’re delighted to be bringing jobs to the Antrim area, and being able to provide customers of The Junction with the opportunity to experience their Greggs favorites," she stated.
The Junction has showcased impressive resilience against the trend of declining footfall seen in other retail areas, registering a 16% increase in visitor numbers and a 13% uptick in sales compared to the previous year. Existing stores, including Mountain Warehouse and Poundland, are flourishing; the latter was recently recognized as the best store of its kind across Ireland, emphasizing the center's thriving commercial atmosphere.
Chris Flynn, Centre Director at The Junction, commented on the positive momentum: "We are extremely encouraged by the high-performing tenants and steady stream of retailer interest at The Junction in recent times." He added, "Our stores have been recording excellent sales figures. The Junction ended 2024 with impressive sales, and we kicked off 2025 with strong turnover, seeing a 10% increase compared to January 2024.”
Simultaneously, Greggs is also enhancing its existing shops, calling upon Norwich City Council to approve changes at its long-standing outlet on Colman Road. This includes plans to install two new illuminated signs and upgrade the shopfront. The bakery chain's application reflects its goal to maintain visibility and modernity within one of its 11 Norwich locations.
Meanwhile, at Cirencester’s historic town center, Greggs is advancing with plans to overhaul the existing shopfront at 9-11 Cricklade Street. The proposal, submitted by Sara Humphries, highlights updates to the store's exterior design as well as enhanced ventilation systems to prevent any potential odor nuisances. The new façade would feature sleek aluminum framing and potential improvements to accessibility with updated self-closing doors.
The proposal for Cirencester reflects Greggs' commitment to maintaining the town’s aesthetic character, especially considering the proximity to several historically listed buildings. A statement from the company assures, “All works are like-for-like with no major alterations proposed,” with efforts to keep the town's integrity as the main focus.
Despite these positive developments, Greggs prepares for some turbulence as it approaches its full-year results for 2024, which are due March 4. Although analysts predict pre-tax profits will grow by nearly 12%, this marks a slowdown compared to earlier outcomes. High street foot traffic has weakened, contributing to declining consumer confidence—however, the company's resilience remains key.
According to Matt Britzman, senior equity analyst at Hargreaves Lansdown, “Greggs is facing challenges but still showcasing operational resilience. Investors will be particularly focused on the potential impact of tax changes following Rachel Reeve’s Budget and how they affect profit margins.”
Investor sentiment leans cautiously optimistic as priorities are set on upcoming consumer spending patterns and the effectiveness of expansion strategies such as new store openings and boosting evening trade and digital sales.
All eyes will be on the results to see if Greggs can effectively push through the sector headwinds, considering the current economic backdrop. With the company’s progressive store expansion and refurbishment plans, such as those underway at The Junction, Norwich, and Cirencester, the future remains hopeful for this iconic bakery chain.
For now, Greggs continues to promise customers not just sweet and savory baked goods but also refreshed shopping experiences, driving both growth and community benefits. Their commitment to enhancing customer satisfaction through greater accessibility and modern store aesthetics sets the stage for their continuing ambition to be more than just your average bakery.