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.

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