UK sandwich retailer Greggs has said it is pleased with its sales performance in the second half, when like-for-like sales rose 6.0%.
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The company, which sells sandwiches, savouries and other bakery products through its Greggs and Bakers Oven fascias, said performance in the final 11 weeks of the second half to 1 January was ahead of its budget, with a like-for-like sales increase of 5.7%.
Greggs said underlying like-for-like sales growth during the five-week period to 8 January 2005, covering Christmas trading, was in line with the overall second half trend after adjusting for the different holiday closure patterns in the two years.
During the year the company opened a total of 56 new shops and closed 24, including ten relocations. This resulted in a net addition of 32 units, in line with the company’s targets, taking its total number of outlets to 1,263 at the year-end.
“In view of the good sales performance, I am confident that we will report a year of satisfactory progress when we make our preliminary results announcement, which is scheduled for 14 March 2005,” said group managing director Sir Michael Darrington.
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By GlobalData
