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Trading statements

Greggs like-for-like sales up in Q3

03 October 2017 07:11

Bakery food-on-the-go retailer Greggs saw total total sales grow by 8.6% in the third quarter (2016: 5.6%) and like-for-like sales in company-managed shops increase by 5.0% (2016: 2.8%).

The group said that the investment in its new forecasting and replenishment system was resulting in greater product availability for customers. It said that in addition, the seasonal changes to its range had been popular and it had further developed its Balanced Choice options.

It added: 'Sales at breakfast time continue to grow strongly along with participation in our great value deals.'

Greggs said: 'In the year-to-date, we have opened 98 new shops, including 37 franchised units predominantly in transport locations.

'We have closed 32 shops, giving a total of 1,830 shops trading at 30 September (comprising 1,636 of our own shops and 194 franchised units).

'For the year as a whole we still expect to open 140-150 shops and close 40-50, a net increase of around 100. We have also completed 120 shop refurbishments and remain on track to refurbish around 130 shops this year.'

Looking ahead, it said: 'As we go into the final quarter of the year we have launched our autumn/winter menu including a new "all day breakfast" wrap and added Thai Chicken Soup to our Balanced Choice range.

'Work on our supply chain investment plan is progressing with the focus on redeveloping our Leeds bakery to consolidate manufacturing of small cakes and muffins.

'Alongside this we will trial our new SAP supply chain system in two sites ahead of broader deployment next year.

'Our investment in greater product availability and service has benefitted recent trading.

'As we have previously indicated, food ingredient cost pressures are a headwind, although we continue to expect that the rate of increase will begin to ease towards the end of the year.

'Accordingly, our expectations for the full year outturn remain unchanged.'

Story provided by StockMarketWire.com

Related Company: GRG

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