Pizzas and summer drinks help Greggs beat off heatwave sales slump
Greggs helped staved off a downturn during this year's heatwave with a range of summer drinks and focaccia-style pizzas.
The group, which has 1,912 shops in the UK, said like-for-like sales rose by 3.2% across its own-managed shops in the 13 weeks to September 29, while total sales were up 7.3%.
It said profit margins were hit at the start of the summer quarter by volatile sales patterns – but this was offset by improved trading since the start of September.
Greggs said: “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.”
The third-quarter performance means comparable store sales are now 2.1% higher in the year to date, with total sales up 5.9%.
Greggs said it remains on track to meet full-year forecasts, with new autumn ranges including a Pumpkin Spice Latte and Chilli Beef Bake.
It has opened 93 new stores in its financial year so far including 35 franchised outlets – largely at transport locations – while closing 35 shops.
The group plans to open 100 net new stores over the year, having recently reined in its expectations from a previous target for 130 new shops.