Member Article

Greggs hopeful despite falling sales

Greggs says total sales are up 3.6% for the 13 weeks to the end of September, but warns like-for-like sales are down 0.5%.

The high street bakery chain suggest performance has improved after stores suffered poor sales during the early part of the summer.

In a trading update the firm said it expected no increase in net shop numbers as openings had matched closures during the period.

Chief executive Roger Whiteside said: “We are encouraged by the recent improvement in like-for-like performance, although with consumer disposable incomes still under pressure we remain cautious. Cost inflation is in line with our expectations and the group’s cash position remains strong. Our overall outlook for the full year is unchanged.

“We have made good progress in developing our strategic plan and our focus on the ‘Bakery food-on-the-go’ format. Customers are enjoying the contemporary new look, easy to navigate range and the provision of seating wherever possible.”

This was posted in Bdaily's Members' News section by Tom Keighley .