Greggs bucks high street gloom
Greggs has reported a 0.8% increase in like-for-like sales during its third quarter. This compares to a 0.4% rise in its first-half to 2 July.
Totals sales rose by 5.4%
In a trading statement issued today the bakery retailer said it had increased its investment in promotional activity by offering more meal deals to help customers make their money go further.
Its new breakfast product range had performed well with sales of bacon and sausage rolls up by more than a third. Sales of Fairtrade coffee increased by 18% after being rolled out to all of the stores. The new 'Superstar Doughnuts' had proved popular with 1.4 million being sold in the first five weeks.
During the first 39 weeks, Greggs opened 66 shops and closed 13, making a net increase of 53. The total number of shops now stands at of 1,540.
CEO Ken McKeikan said: The trading environment remains challenging, with consumers' disposable incomes under pressure. We will continue to respond to this by offering our customers outstanding value through targeted promotional activity, supporting some of this investment through our continuing drive to improve business efficiencies.
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