Greggs set to open 600 bakeries nationwide as baker bucks recession

In a statement, the high-street favourite said a good harvest helped contribute to boosted sales: "Cost inflation is easing overall, in line with our expectations. This year's good wheat harvest and reduced energy costs are contributing to this positive trend, which is partly offset by continued cost increases in some ingredients, particularly meats. Overall business performance in the year to date is in line with our plans and our financial position remains strong." The company said it will look to take advantage of workers trading down at lunchtimes with plans to roll out another 600 outlets. "The growth opportunities within the UK are significant. It remains our belief that a further 600 shops can be opened in the medium term with little cannibalisation of sales from our existing shops. This will take our shop numbers above 2,000, making us accessible to many more consumers and creating some 6,000 new jobs. "We also see the continued opportunity to expand into locations where consumers work and travel such as transport hubs and industrial and retail parks, in addition to our more traditional presence on high streets." Greggs is the leading bakery retailer in the UK, with 1,400 retail outlets serving six million customers per week throughout the country.