Sausage-roll loving Brit says Greggs warning on price hike is the end for them

Twitter users reacted with dismay as Greggs warned that the price of its products is likely to go up for the second time this year as it faces runaway increases in costs.

The fast-food chain said it had already increased some prices at the start of the year, and that further changes are expected.

Reacting online, one Greggs fan joked: "Covid I can take, rising fuel prices I can take, electricity and gas rise ok, FFS even Watford at home but Greggs rising prices is the end for me.

"It's up there with paying more than a pound for something in Poundland. Classic drug dealer business, get em hooked wind em in."

But the company said the cost of doing business is expected to rise between 6% and 7% for them this year due to higher staffing and ingredient costs.

It said it will try to protect its reputation for being “outstanding value for money”.

But people weren't happy. "Greggs had record profits last year. They’re putting up prices for greed, not because they need to," claimed one woman on Twitter.

Indeed, total sales rose 5.3% to £1.2bn, in comparison with 2019’s figure of £1.1bn, preliminary results for the year to 1 January revealed this morning, March 8.

But the company said the cost of doing business "has necessitated some price increases." They said these were "made at the start of this year, and further changes are expected to be necessary."

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“As ever, we will work to mitigate the impact of this on customers, protecting Greggs’ reputation for exceptional value in the freshly-prepared food-to-go market,'" it added.

“Given this dynamic, we do not currently expect material profit progression in the year ahead.”

However, boss Roger Whiteside said the company will have to assess whether it is able to change prices before it does.

It comes down to ensuring that customers will still choose to spend money at Greggs even if prices go up.

“We’ve got no plans to raise prices currently, but obviously that’s going to have to remain under review given the way the markets are moving around the world on commodity food prices in particular,” he said.

“If the market allows price increases to move onto customers, then we will have to attempt to do that, if it doesn’t then we won’t be able to,” he added.

“You’re trying to position price to make sure you maximise sales.”

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