Member Article

Newcastle’s Greggs on track for strong performance as sales grow 3.6%

Newcastle-based bakery chain Greggs has reportedly continued strong performance in the second half to date, with a total sales growth of 3.6%, slightly under that of last year (3.7%)

However, year to date own shop like-for-like sales are reportedly up 4.2%, compared to the same period in 2013 when Greggs posted a 1.1% decline.

Performance has been described ahead of expectations, particularly given comparison with strong Q4 2013, and the firm now anticipates that full year profits for the 53 weeks to 3 January 2015 to be ahead of analysts’ expectations.

Chief executive Roger Whiteside said: “The strong performance that we reported in our September IMS has continued.

“Trading conditions have remained helpful but there is no doubt that customers are also responding to improvements in our product and service offer and to the investment we are making in the shop environment.

“Whilst there is still much to play for over the final few weeks of the year we currently anticipate that full year profits will be ahead of analysts’ expectations.

“We expect to make a further update on trading over the Christmas period in early January.”

This was posted in Bdaily's Members' News section by Clare Burnett .