Greggs has warned of "lower consumer confidence" affecting their sales, while rising employment costs post-Chancellor's Budget will lead to price increases across their offerings.
The company is optimistic, highlighting that "Greggs has demonstrated its ability to mitigate cost inflation in recent years whilst retaining its value leadership, and we are confident we can continue to do so."
Chief executive Rosin Currie emphasized, "Our value-for-money offer and the quality of our freshly prepared food and drink position us well to meet the headwinds we expect to see in the year ahead, and we remain confident in the significant long-term opportunity for growth."
Despite a challenging market backdrop, Greggs experienced a 2.5% sales growth in its fourth quarter, culminating in record annual revenue of £2 billion for the first time.
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