Greggs turns a corner since lockdown eased
The FTSE 250 bakery chain said in recent weeks comparable sales growth at stores it manages has been between 1 and 3% ahead of the same period in 2019.
The sausage roll seller, led by Roger Whiteside, had previously pointed out it would face more competition when the hospitality started reopening, outdoors in April and indoors the following month. Greggs said recently the impact of pent-up demand for retail has reduced, but added “this level of sustained sales recovery is stronger than we had anticipated and, if it were to continue, would have a materially positive impact on the expected financial result for the year.”
Greggs branches were open for much of last year, but sales fluctuated monthly depending on what lockdown restrictions were in place at different times in different parts of the UK.
