THE RETAIL BULLETIN - The home of retail news
HOME
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Shopping Centres & Retail Parks
Sports & Leisure
The Papers
RETAIL INSIGHTS
RETAIL SOLUTIONS
• The HR Summit 2019
• AI in Retail Conference 2019
• Omnichannel Futures Conference 2020
• Future of Customer Engagement 2020
ABOUT
CONTACT
SUBSCRIBE FOR FREE
Greggs hails ‘resilient’ first half performance

Greggs has posted an increase in sales and profit in the first half of its financial year despite facing a “tough operating environment”. Company-managed shop like-for-like… View Article

FOOD & DRINK

Greggs hails ‘resilient’ first half performance

Greggs has posted an increase in sales and profit in the first half of its financial year despite facing a “tough operating environment”.

Company-managed shop like-for-like sales rose by 1.5% in the six months to 30 June, while total sales increased by 5.2% to £476 million.

Meanwhile, pre-tax profit including property profits and exceptional charges climbed to £24.1 million from £19.4 million in the same period in the previous year.

Greggs said the results were achieved despite trade being significantly affected by extremes of weather and increased consumer caution.

The company said it continued to see strong growth in sales of hot drinks, breakfast items, healthier choices and hot food in the six months. These growth categories now account for 30% of sales compared to 15% in 2013.


Stay updated with the latest retail news for free by subscribing to the Retail Bulletin mailing list.


Roger Whiteside, Greggs chief executive, said: “Greggs has delivered a resilient performance despite challenging market conditions and we have continued to make good progress with our strategic investment programme to transform the business into the customers’ favourite for food-on-the-go.”

During the period Greggs opened 59 new shops and closed 25. It also increased its presence in transport locations with the opening of its first store in a tube station in London’s Westminster and new shops at Birmingham New Street station, Glasgow Buchanan bus station and East Midlands Airport. It also launched its second drive thru store. At the end of June Greggs had 1,888 shops trading.

Looking ahead Whiteside said: “While we remain cautious in respect of the outlook for sales in the balance of the year given the consumer backdrop, we are confident in the medium and long-term growth potential for the business, supported by customers’ response to our initiatives, our strong cash generation and the ongoing strategic investments that we are making.”

The company said full year underlying profit before exceptional costs is likely to be at a similar level to 2017.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The HR Summit 2019
The HR Summit 2019
8 October 2019
Hallam Conference Centre, London W1W 6JJ
Company values, collaboration with employees and driving a major HR transformation to create a truly omnichannel experience, need to be at the heart of the organisation's culture and brand
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, London W1G 9DT
SENIOR-LEVEL FORUM FOR HEADS OF MARKETING, DIGITAL, ECOMMERCE AND CX
Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Future of Customer Engagement 2020
Future of Customer Engagement 2020
10 June 2020
Cavendish Conference Centre, London W1G 9DT
The 11th Annual Retail Customer Engagement Conference