Greggs to double rate of refits in new expansion campaign
High street baker Greggs has unveiled plans to double the number of shop refits it undertakes to about 120 a year as part of an aggressive new expansion campaign.
The group, which currently has 1,400 retail outlets, also set out plans to open another 600 shops in the coming years as it announced it would target parts of the UK where it is currently under-represented. This includes the South-west, North-east Scotland and North Wales.
The refit programme will include a mixture of existing and new Greggs’ sites. The retailer intends to add between 50 and 60 shops to its estate next year, followed by at least 70 a year from 2011 onwards.
Greggs said the developments required total capital expenditure to rise by between £50 million and £60 million a year.
The plans were announced as the group revealed it had experienced like-for-like sales growth of 1 per cent in the 42 weeks to 17 October.
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