Greggs sales up 5.7% in trading update
The bakery chain reported that its total sales rose 5.7% in first 18 weeks of 2016, while company-managed shop like-for-like sales were up 3.7%.
According to the company, 55 shop refits were completed in the period, along with 43 new shops opened. There were 21 closures in the same period.
Greggs said, "The improvements made to our shops and our product range continue to drive growth in sales. Our hot sandwich range and extended breakfast menu have proved particularly popular and the introduction of our flat white coffee is helping to continue our delivery of double-digit growth in sales of hot drinks. We have extended our fresh fruit offer and have been encouraged by trials of our upgraded range of salads, which are freshly prepared in store and now available nationwide. All salads meet our Balanced Choice criteria and include some innovative new products such as Teriyaki Chicken Noodle and Falafel with Houmous."
"We have made a good start to the year. Input cost inflation remains low despite increased wage costs and, with a strong pipeline of product initiatives and plans to invest in our shops and supply chain, we expect to make progress in line with our previous expectations."
