Greggs – executive interview

In our interview, Richard Hutton, CFO of Greggs, provides an overview of some of the long-term growth drivers for the business and required changes to the infrastructure, before focusing on the current trading environment and outlook for the year ahead. We begin with the long-term growth opportunity for Greggs from a space perspective, beyond the current five-year growth strategy under which the company is aiming to double revenue. Richard then talks about how Greggs’ digital activities are helping to drive revenue growth and improve its customer relationship management capabilities. Next, he describes current capital investment in a number of infrastructure projects that will help to support the company’s future revenue growth. We move on to how the addition of new products and services is increasing the complexity of in-store operations. Richard concludes by providing some insights into the current operating environment and the outlook for the year.

Greggs is the leading UK ‘food-on-the-go’ retailer. It uses vertical integration to offer differentiated products at competitive prices. Its ambition is to grow revenue to £2.4bn by FY26.