12th Jan 2016 07:50
LONDON (Alliance News) - Greggs PLC on Tuesday reported growth in sales in its recently-ended financial year, driven by sandwiches, drinks, hot food and coffee, although like-for-like sales growth slowed over the Christmas period against a strong comparative period and amid weaker footfall.
The bakery and food-to-go retailer said total sales grew 3.7% in the 52 weeks to January 2, compared with the 53-week prior year. Excluding the prior year's 53rd week, total sales rose 5.2% against the 52-week prior year comparable, while company-managed shop like-for-like sales rose 4.7%.
However, like-for-like sales growth slowed to 2.3% in the fourth quarter as Greggs came up against stronger comparatives and weaker footfall in some shopping locations. Sales over the Christmas period were in line with the overall fourth-quarter trend.
Greggs said sales were particularly strong in sandwiches and drinks, including its healthier options 'Balanced Choice' range and 'no added sugar' drinks. The new hot food menu also sold well, while seasonal favourites made a strong contribution to sales over the Christmas and New Year period, and coffee sales were strong amid increasing demand for breakfast-on-the-go.
"We anticipate that we will report full year results for 2015 in line with our previous expectations. In the year ahead we will continue with the implementation of our strategic plan to enable the business to compete more effectively in the food-on-the-go market," Chief Executive Roger Whiteside said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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