Greggs (GRG); trading update: total sales increase 13.5%

Published on 08-01-2020 08:27:12
Author Sparks Team
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In its Q4 2019 trading update, Greggs announced that the company-managed shop like-for-like sales grew 9.2 % and 8.7% for FY 2019 and Q4 2019, respectively. During the year, the company opened 138 new shops and closed 41, growing the estate to 2,050 shops as of 28 December 2019. The company expects around 100 net shop openings in the year ahead.

Currently, the board expects full-year underlying PBT to be slightly higher compared with previous expectations. The company will announce its preliminary results for FY 2019 on 3 March 2020.

Roger Whiteside, Greggs’ CEO, commented: “Looking to the year ahead, we face strong sales comparatives and cost inflation headwinds present a challenge. However, with strong momentum in the business we see further growth opportunities across a number of channels as we invest in new ways to make Greggs more accessible and convenient for customers.”

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