Sausage rolls back in fashion at Greggs
High street baker sees autumn sales recovery
October 22 2003
Sales of savouries, sandwiches and sausage rolls have recovered at high street baker Greggs since the weather cooled following the summer heatwave.
In a trading statement, group managing director Mike Darrington said like-for-like sales have increased by 2 per cent over the last ten weeks and remain on an improving trend. Profits for are also ahead of the same period last year.
The business, which operates more than 1,200 UK retail outlets under the Greggs and Bakers Oven brands, had found sales hard to come by during the hot weather.
Since the start of its second half, the 18 weeks to October 18, like-for-likes are up 1.7 per cent.
With 14 stores opened in the second half so far, total sales have been boosted by the new space, rising 6.3 per cent. Greggs expects to add 35 stores across the year as a whole, allowing for closures and relocations.
Darrington said: “We are recovering increased raw material prices and reducing costs across the group, and are also now entering a period of much less testing sales comparatives.
“Although our market place is undoubtedly becoming more competitive, we believe that the actions we are taking will enable us to report a year of satisfactory progress that reflects the fundamental strengths of our brands, formats and people.”
