Greggs total sales for 2016 rise
The bakery chain showed strong performance in the previous year.
According to the brand's latest financial report, total sales for 2016 rose 7.0% to £894.2 million from £835.7 million last year, while company-managed shop reported a like-for-like sales growth of 4.2%.
Greggs' 'Balanced Choice' range of healthier options accounted for over 10% of its sales throughout the period, and the brand continued to grow in the food-to-go market. There were a total of 208 shops refurbished in 2016, which 92% of shop estate was transformed to food-on-the-go formats.
A total of 145 new shops opened during the year, putting the brand network to 1,764 shops trading as of 31 December 2016.
"In 2016 we delivered another strong performance as we continued on our journey to transform Greggs from a traditional bakery business into a modern, attractive food-on-the-go retailer. Our product offer is evolving to meet the changing needs of our customers and our shop estate and service levels have benefited from significant investment," Roger Whiteside, Chief Executive, said.
"The UK consumer outlook is more challenging than we have seen in recent years, with industry-wide pressures emerging in commodities as well as labour costs. However we are confident of making further progress as we implement our plan to grow Greggs as a contemporary food-on-the-go brand."
Photo credit: Greggs website
