Business
Trading Statement
Trading Statement.
About this update from Greggs Plc
[{"type":"text","content":"\n \nRNS Number : 5782X Greggs PLC 09 May 2016 \n\n \n \n \n9 May 2016\nGREGGS plc\nTRADING UPDATE\n \nGreggs is the leading bakery food-on-the-go retailer in the UK, \nwith over 1,700 retail outlets throughout the country\n \nA good start to the year\n \n· Total sales up 5.7% in first 18 weeks of 2016 (2015: 5.9%)\n· Company-managed shop like-for-like sales in the first 18 weeks up 3.7% (2015 comparator period: 6.0%)\n· 55 shop refits completed \n· 43 new shops opened, 21 closures\n· Breakfast, hot sandwiches and 'Balanced Choice' options driving growth\n· Consultation on supply chain investment proposals progressing\n \nIn advance of the company's AGM tomorrow, Greggs plc is providing an update on its business.\n \nTrading performance\n \nTotal sales for the 18 weeks to 7 May 2016 grew by 5.7 per cent and like-for-like sales in company-managed shops grew by 3.7 per cent over the same period. As has been widely reported, conditions on the High Street were softer in March before recovering in recent weeks; these conditions were reflected in our own performance.\n \nThe improvements made to our shops and our product range continue to drive growth in sales. Our hot sandwich range and extended breakfast menu have proved particularly popular and the introduction of our flat white coffee is helping to continue our delivery of double-digit growth in sales of hot drinks. We have extended our fresh fruit offer and have been encouraged by trials of our upgraded range of salads, which are freshly prepared in store and now available nationwide. All salads meet our Balanced Choice criteria and include some innovative new products such as Teriyaki Chicken Noodle and Falafel with Houmous.\n \nShops\n \nIn the first 18 weeks we completed 55 shop refurbishments and in total will refit around 200 shops this year. These transformational investments continue to drive incremental sales growth as customers enjoy the improved shopping environment and additional facilities such as seating. \n \nIn the year to date we have opened 43 new shops, including 23 franchised units in transport locations. We closed 21 shops, giving a total of 1,720 s...