Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Greggs staff to share £17.6m bonus as chain becomes UK’s top breakfast take-out

by March 6, 2024
March 6, 2024
Greggs staff to share £17.6m bonus as chain becomes UK’s top breakfast take-out

Greggs, the popular bakery chain known for its sausage rolls and steak bakes, is set to distribute a £17.6 million bonus among its staff this month, following a record annual profit announcement. With a 27% surge in profits to £188 million, Greggs has surpassed McDonald’s to become the UK’s top breakfast takeaway spot.

Around 25,000 employees out of the total 32,000 across the UK will benefit from the bonus under a profit-sharing agreement, with each employee’s share varying based on their service tenure and working hours. For instance, an employee working 22 hours per week with six years of service will receive £765.

Despite facing cost inflation of 4% to 5% this year, primarily due to wage increases, Greggs has announced no further price rises for the year ahead. The company implemented modest price increases on some items in December but kept prices stable for popular items like sausage rolls and vegan sausage rolls.

Roisin Currie, Greggs’ chief executive, highlighted the company’s success in becoming the UK’s leading breakfast takeaway provider, capturing 19.6% of visits. This achievement was attributed to menu expansions, including the addition of bacon rolls, and adjustments to opening hours, which now start as early as 5am.

While Greggs aims to expand its presence further, particularly in the evening market, it remains focused on maintaining its strong position in the breakfast segment. The company witnessed a record-high full-day market share, with its share of food-to-go visits reaching 8.2%.

Greggs also reported growth in like-for-like sales, increased pre-tax profit, and raised its dividend payout to shareholders. Its success is attributed to menu innovation, expansion of delivery services, and strategic store openings, including partnerships with retailers like Primark, Tesco, and Sainsbury’s.

Looking ahead, Greggs plans to open up to 160 net new shops this year, aiming for more than 3,000 UK stores in the long term. Additionally, the increase in the national minimum wage is expected to further boost consumer spending, contributing to the company’s continued success.

Read more:
Greggs staff to share £17.6m bonus as chain becomes UK’s top breakfast take-out

0
FacebookTwitterGoogle +Pinterest
previous post
February sees Highest UK new car sales reach highest figure in 20 years
next post
Where has your target market gone? How SMEs can roll with the changes to develop a business growth strategy with impact

You may also like

Homebase Faces Second Sale in Four Years as...

February 27, 2024

A public inquiry has begun into London Luton...

September 27, 2022

Funding Circle looks to sell US arm and...

March 7, 2024

Resilience Raises $100M to accelerate expansion across Europe

August 7, 2023

Vodafone franchisee scandal prompts parliamentary support and calls...

July 3, 2025

UK manufacturers urge MoD to channel defence spending...

June 2, 2025

US Postal Service halts china parcels following new...

February 5, 2025

Socium raises $5M to become leading HR solution...

November 23, 2024

Sunak to challenge Biden over US green subsidy...

March 13, 2023

How Job Hopping Can Make or Break Your...

November 28, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Ex-Trump prosecutor Jack Smith under investigation by government watchdog Office of Special Counsel

      August 3, 2025
    • Trump tells Schumer to ‘GO TO HELL’ over Senate nominee deal funding demands after negotiations collapse

      August 3, 2025
    • Pirro confirmed as D.C. U.S. Attorney amid partisan clash as Dem nominee blockade continues

      August 3, 2025
    • Dems dig in, Trump demands all: Nominee fight boils over in Senate as GOP looks for a deal

      August 2, 2025
    • Trump 1.0 alums share chilling Google message from before second-term return: ‘LAWFARE at its finest’

      August 2, 2025
    • Trump closes week with plans to reposition subs amid heightened Russia tension, new tariffs

      August 2, 2025

    Categories

    • Business (8,652)
    • Investing (2,168)
    • Politics (16,290)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved