Greggs bakes off crisp performance for Q3

Greggs

Greggs, the high street bakery chain has reported good trading in the third quarter, with increased sales while controlling costs.

The popular operator has reported in the 13 weeks to 3 October 2015 like-for-like sales grew by 4.9 per cent, slightly ahead of expectations.

In the year to date like-for-like sales have increased by 5.6 per cent.

Total sales grew by 5 per cent in the same period and 5.1 per cent in the year to date.

New product and value deals continue to increase customer visits and transaction values, said the company which added that the extension of its Balanced Choice range to include improved own-label drinks with no added sugar has proved popular.

Sales performance is slightly ahead of the previous plan and, whilst comparatives will stiffen further in the fourth quarter, sales will benefit from additional shop openings.

As a result, Greggs expects to deliver good growth for the year, slightly ahead of previous expectations, and further progress against the strategic plan.

So far this year, 58 shop refurbishments have been completed and around 200 shops will be completed this year.

In addition, 20 of the larger bakery cafés have been converted to the ‘bakery food-on-the-go’ format.

65 new shops have now been opened in 2015, including 35 franchised units predominantly in transport locations while 47 shops have been closed, giving a total of 1,668 shops trading at 6 October (comprising 1,588 own shops and 80 franchised units).

The relationship with Euro Garages has so far led to the development of Greggs outlets in 30 of their forecourt sites, with a further 27 sites that are undergoing refurbishment in the fourth quarter.

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