Greggs upgrades profit expectations as sales jump
Food-to-go specialist Greggs has upgraded its full-year outcome as both in-store and online sales jumped in the third quarter despite ongoing supply chain issues.
In its third quarter, Greggs reported that two-year like-for-like sales were up 3.5% “despite staffing and supply chain disruption”; it added that sales through online delivery were “developing well” and were now available from 943 stores.
Sales in August were “particularly strong” for Greggs, due to the “staycation effect”, and remained positive throughout September with 3% growth on two-year like-for-like sales in the four weeks to October 2.
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