Home Business NewsBusiness Greggs’ shares jump as sales lifted by hot summer

Greggs’ shares jump as sales lifted by hot summer

by Purvai Dua
9th Oct 18 7:54 am

Greggs’ shares were up 6.8 per cent in early trading today after it announced that its like-for-like sales jumped 3.2 per cent over the 13 weeks to September 29 amid hot British summer.

However, the group’s total sales climbed 7.3 per cent when it was 8.6 per cent rise in the same period last year.

“We were pleased with our trading performance during a period that included a long spell of hot weather, which made sales patterns more difficult to predict. This, and the resulting mix of sales led to a lower-than-normal trading margin in the first part of the quarter, offset by improved trading as we came into September.”

“Overall our expectations for the full year outturn remain unchanged,” Greggs, which sells sandwiches, sausage rolls and pastries from more than 1,900 outlets, announced after the trading results. It also said that expectations for the full year were unchanged.

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