Greggs reports continued strong recovery

High street food-to-go giant, Greggs has given an update since it last reported trading performance on 10 May, at which point it had seen a strong recovery in sales levels following the easing of restrictions on non-essential retail across the UK.

The group, which has more than 2,000 retail outlets throughout the UK, stated that since then it had expected to see increased competition as cafes and restaurants were allowed to compete more effectively with its largely take- out offer.

In recent weeks the impact of pent-up demand for retail has reduced but, nonetheless, like-for-like sales growth in company-managed shops has remained in positive territory ranging between one and three per cent when measured against the same period in 2019.

This level of sustained sales recovery is stronger than Greggs had anticipated and, if it were to continue, would have a materially positive impact on the expected financial result for the year.

the company will provide an updated picture when it presents interim results on 3 August 2021.