Economy

Greggs posts seventeenth quarter of sales growth

Greggs posts seventeenth quarter of sales growth”

Greggs is aiming to grow its estate to nearly 2,000 stores in the coming year with the opening of up to 130 new sites.

Fourth quarter LFL sales for the company were up 3%, while company-managed shop LFL sales grew 3.7% for the year ending December 30 2017.

The firm expects to accelerate shop openings to a net figure of 110-130 in 2018 from a net 90 in 2017 and said 2018 would also be a record year for investment in its supply chain.

Greggs plans to roll out more stores in the year ahead with net additions expected to be in the 100-130 range.

Commenting on the latest numbers Chief Executive Roger Whiteside said: "We finished 2017 well, delivering our seventeenth consecutive quarter of like-for-like sales growth, and anticipate that we will report full year results for 2017 in line with our previous expectations".

Having made major changes to its manufacturing and distribution structure last year, including the closure of a number of sites, the business said 2018 would be a "record year" for supply chain investment.

Investment in the supply chain has bolstered this success, with the opening of a new national manufacturing facility in Leeds.

Company-managed shops saw like-for-like sales increase by 3.7% over the year, and in Q4 sales were up by 3%.

"In its outlook for 2018, Greggs said: "[This year] will be a record year for investment in our supply chain as we install numerous centralised manufacturing platforms that will provide the capacity for further growth of the business".

Popular items included classic favourites, festive baked goods, hot sandwiches and a gluten-free soup, Greggs said.

Want more stories like this in your inbox?



Like this

loading...
loading...

Latest


16 January 2018
Best Of CES 2018: iHome iGV1 Google Assistant-Powered Speaker
Amazon's announced its plans to release the Amazon Echo Spot smart clock in the United Kingdom , powered by the Amazon Alexa AI. Users can watch videos, play music, see commute and weather information and even set an alarm on the unit's display.

16 January 2018
Alexa-Powered Amazon Echo Spot 'Smart Clock' Launches In UK Next Week
Televisions from LG, Sony and others can be voice controlled directly through Alexa or Google Assistant without a hub. I definitely don't want the "Works with Wink / SmartThings / Nest" designations on smart home products to disappear.

16 January 2018
Government pushes for full Dengvaxia refund
It said it wanted to keep doing business with the Philippine government and correct public perception on the vaccine. More than 830,000 schoolchildren had received at least one dose of Dengvaxia before the DOH could stop the program.

16 January 2018
Sebastian Stan Says Hugh Jackman Has Talked About Returning As Wolverine
Of course, the fact that Fox held the rights to the X-Men - and the Fantastic Four , for that matter - made that seem highly unlikely.

16 January 2018
Electronics For Imaging (EFII) Earning Somewhat Positive Press Coverage, Report Finds
The company was maintained on Tuesday, October 25 by Needham. (NASDAQ:EFII) on Friday, September 22 with "Underweight" rating. Investors sentiment increased to 1.12 in 2017 Q3. (NASDAQ:EFII) tinted loss of -1.36% (-0.42 points) to US$30.47.

16 January 2018
Ameriprise Financial Inc. Has $8.34 Million Holdings in Olympic Steel, Inc. (ZEUS)
The basic materials company reported $0.20 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.15 by $0.05. Globeflex Limited Partnership holds 0.12% of its portfolio in AK Steel Holding Corporation (NYSE: AKS ) for 73,534 shares.

16 January 2018
Canadiens Danault taken to hospital with head injury
The player's father Alain Danualt posted a health update to his Facebook page late Saturday night thanking fans for their support. This is a great stretch of hockey, and they look to continue their winning ways against the Dallas Stars on Monday.

16 January 2018
Jeep Cherokee gets a much-needed facelift
For example, Overland models receive chrome tow hooks while Trailhawk models are fitted with bright red hooks. Apple CarPlay and Android Auto are, as is becoming the norm, standard on all Cjerkoee's Uconnect systems.

16 January 2018
Ceramic Thermal Spray Coatings Market | Global Industry Report (2012-2022)
Anticorrosive Waterborne Coatings segmentation also covers products type (Epoxy Coatings, Acrylic Coatings and Urethane Coatings). In Terms of End-Use Nitrocellulose Coatings Market is Divided into Pigmented Coatings and Universal White Coatings.

16 January 2018
Couple Arrested After Children Found 'Shackled To Their Beds' In California Home
She was so emaciated cops thought she was 10 years old at first. "The victims appeared to be malnourished and very dirty". The children were said to be living in a deplorable condition and also seemed to have been starved.