Mince pies boost Greggs Christmas sales
Bakery retailer Greggs has reported a 5.1% rise in like-for-like sales in the five weeks to 7 January. Total sales grew by 10.8%.
Highlights during the Christmas period included record sales of the baker’s sweet mince pies with more than 7.5 million sold. There was also a 27% increase in sales of festive bakes and a 21% increase in coffee sales.
For the year ending 31 December, total sales rose by 5.8% and like-for-like sales by 1.4%.
Greggs opened 98 new shops during the year taking the total number of stores to 1,571 and said its continued expansion has created around 800 new jobs. This has lifted the total number of employees to above 20,000 for the first time.
The company said it anticipated its full year results to be in line with expectations.
Chief executive Ken McMeikan said: “We anticipate that the tough trading environment will continue during 2012, with consumers’ disposable incomes remaining under pressure. We will therefore continue to focus on maximising our customer appeal through product innovation and strong promotional activity, building on Greggs’ already excellent reputation for value.”
