[Closed] A UK success story

UK GDP might be a poultry 0.2% but look at our favourite purveyor of vegan sausage rolls.... growing at plus 12%

1 October 2019
 
GREGGS plc
THIRD QUARTER TRADING UPDATE
 
Greggs is a leading UK food-on-the-go retailer,
with more than 2,000 retail outlets throughout the country
 
Continued very strong sales growth
 
Highlights
 
·    Total sales up 12.4% for the 13 weeks to 28 September 2019
·    Company-managed shop like-for-like sales up 7.4% for the 13 weeks to 28 September 2019
·    Total sales for the nine months to 28 September 2019 up 13.9% and company-managed shop like-for-like sales up 9.4%
·    56 net new shops opened year-to-date (90 openings less 34 closures)
·    2,000th shop opened in August, expect around 90 net openings in 2019
·    Autumn range includes new hot sandwich options, Pumpkin Spice Latte and new post-4pm meal deals
·    Our expectations for the full year remain unchanged
 
Trading performance
 
Greggs continued to trade very strongly in the third quarter.  As expected, the rate of year-on-year sales growth moderated as we came up against stronger comparative sales from the previous year, but sales were still up strongly, driven predominantly by growth in customer numbers.  In the 13 weeks to 28 September 2019 total sales grew by 12.4 per cent (2018: 7.3 per cent) and like-for-like sales in company-managed shops increased by 7.4 per cent (2018: 3.2 per cent).  Total sales have grown by 13.9 per cent in the nine months to 28 September 2019 and like-for-like sales have increased by 9.4 per cent.
 
Our Autumn menu is now available in our shops, and features exciting new additions to our hot sandwich range, including Chipotle Chilli Steak and Hot Peri Peri Chicken Baguettes.  Our popular Spicy Chicken and Pepperoni Bake also makes a welcome return, alongside our Pumpkin Spice Latte.
 
We are progressing trials to open a number of shops later into the evening, supported by an extended range of great value 'post-4pm' deals.  These include our £2 pizza plus drink offer and a new hot menu meal deal, which is made up of any hot sandwich or chicken goujons plus potato wedges and a drink for just £4.  We are encouraged by customer demand for our delivery service trials, and are developing the operational processes to service this channel. 

Although not much news on its export targets ?

Love the way they get a sales pitch into their official RNS announcement.

Called up 2% this morning