Greggs, the high street baker and sandwich shop chain, this morning revealed it had achieved a 5.3% increase in like-for-like sales for four weeks prior to 3 January.
In a trading update, the company said that sales in the second half of its financial year in 2008 had increased by 6.6% and that LFLs for the same period were up by 3.9%.
It added that total sales growth for the year were up by 7.1% and that LFLs for the period had grown by 4.4%.
The company added that it had opened 67 new stores and close 26, leaving it with a total of 1,409 as of 27 December.
Chief executive Ken McMeikan said that he was particularly pleased with the company’s trading over the Christmas period – and that Greggs was reporting results in line with expectations.
He added: “The trading outlook for 2009 is demanding and customers will continue to feel the impact of the economic downturn. Costs will remain high into the first half despite the recent easing of prices for fuel and a number of key commodities.
“However, I believe that the quality and great prices of our products give us a competitive advantage. As a cash generative business with no debt we remain well placed to weather the recession and benefit from opportunities for future growth.'
