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Sparks commentary - Greggs

Consumer

Sparks - Greggs

More on this equity
Greggs (LSE:GRG) AGM trading update indicates consistent underlying trends
Published by Russell Pointon

Greggs has reported good total sales growth of 7.4% for the first 20 weeks of the year on a tough comparative of 13.8% as it continues to benefit from space growth and menu enhancements. The company reported a slight improvement in like-for-like sales growth in the first 20 weeks of the year to 2.9%, up from 1.7% in the first 9 weeks of the year, which has been helped a little by a slightly easier comparative in the latter part of the period. As a result, the underlying growth rate this year is pretty consistent when the comparatives are taken into account.

There are no changes to management’s expectations for space growth or cost inflation in the coming year.

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