Greggs revises profit expectations

Greggs achieved a like-for-like (lfl) sales increase of 8.3%, within its company-managed shops, for the six weeks to 9 November 2019.

Updating the market, on what it described as “strong trading momentum”, the food to go retailer saw total sales increase by 12.4% - compared with +8.5% for the same period last year – and said it is now anticipating that 2019 full-year profit before tax, will be higher than previous expectations.

Lfl sales increases were significantly up on last year’s +4% for the same period, with lfls up 9.2% for the year-to-date and total sales up 13.4%.

Greggs said that sales growth continued to be driven increased numbers of customer visits “and has been stronger than we had expected given the improving comparative sales pattern that we saw in the fourth quarter last year”.