Greggs sales growth slightly slows in Q3
The bakery chain expects around 90 new openings this year.
Greggs’ sales growth slightly slowed in the third quarter as it prepares for potential impact due to Brexit.
In its latest trading update, the bakery chain posted a sales increase of 12.4% for the 13 weeks to 28 September 2019.
Like-for-like sales at company-managed shops grew by 7.4%, down from 10.5% in the first half of the year.
Greggs has opened 56 net new shops - opening 90 new shops and closing 34 shops - so far this year. Overall, there are now 2,009 shops trading as of 28 September.
“For the year as a whole we expect around 90 net openings, of which around 40 are planned to be with franchise partners,” it said in the update.
Greggs also said that they have been “building stocks of key ingredients and equipment that could be affected by disruption to the flow of goods into the UK” due to Brexit.
“Overall input cost inflation is in line with our previous guidance to the end of the year, with pressures on both labour and food input costs,” it said.
The bakery chain also maintained that expectations for the full year outturn remain unchanged.
