FDBusiness.com

New Shop Openings Drive Sales at Greggs

 Breaking News
  • Royal Unibrew Completes Acquisition of French Lemonade Business Royal Unibrew, the Denmark-based beverages group, has completed the acquisition of Etablissements Geyer Fréres for an enterprise value of DKr660 million (€88.5 million) financed by bank debt. The acquisition of Etablissements Geyer Fréres will give Royal Unibrew increased access to the French soft drinks market and will further strengthen its export portfolio. Employing about 100 [...]...
  • Private Label Outperforms FMCG Brands in Europe Private label continues to grow across Europe and is now outperforming brands in the majority of markets measured by big data and technology expert for consumer FMCG industries, IRI in its analysis of private label performance across eight major Western economies markets (UK, France, Germany, Greece, Italy, Spain, Netherlands and the US) during 2017. Growing +4% year on [...]...
  • Meat & Poultry – Future-proof For Success The meat market remains fast-moving and competitive. As part of this processors and retailers are always looking for a point of differentiation. As well as new product development, this can mean new pack formats. Convenience remains a major driver here but this has to be matched by the ability to maintain product quality and freshness [...]...
  • Ready Meals – Not Ready For the Future New research (1) published by Eating Better, a powerful alliance of more than 50 organisations, shows that supermarkets need to shake up their ready meal ranges. They are not catering for the growing number of flexitarian customers who are cutting back on their meat eating for their health and the health of the planet (2). [...]...
  • Top 100 Largest Spirits Brands Revealed The world’s most popular alcoholic drink in 2017 was the South Korean soju brand Jinro, owned by Hite-Jinro, according to the IWSR Real 100, the definitive ranking of the world’s largest spirits brands by volume. Selling almost 76m nine-litre cases, Jinro retains its number one position from last year, and once again by a staggering [...]...

New Shop Openings Drive Sales at Greggs

New Shop Openings Drive Sales at Greggs
August 10
15:01 2011

Greggs, the UK’s leading bakery retailer with over 1,500 outlets throughout the country, has reported a 4.2% increase in group sales to £335m, including like-for-like sales growth of 0.4% in the 26 weeks ended July 2nd 2011. The sales growth was driven by a record number of new shop openings by Greggs.

 

Operating profit excluding exceptional items fell £1.2m to £17.3m. However, taking into account the £2m impact of additional public holidays in the first half, underlying operating profit rose by £0.8m.

 

“This was a creditable performance in the light of the very substantial increases in commodity prices during the half year, affecting most key ingredients as well as our energy-related production, retailing and distribution costs. This pressure was mitigated by our continuing drive to identify and unlock cost savings throughout the business,” says Ken McMeikan, chief executive of Greggs.

 

Ken McMeikan, chief executive of Greggs.

He continues: “Trading conditions have proved to be more challenging than we had expected and we do not anticipate that the second half will bring any alleviation of the tougher consumer spending environment with disposable incomes remaining under pressure. We continue to experience substantial increases in commodity prices and are continuing to work hard to mitigate the impact on customers through business efficiencies and targeted promotional activity.”

 

Greggs is continuing to open new shops and increased the size of its retail portfolio by 39 outlets during the first half and is on track for 80 net additions during the full year. The group also completed the construction of two new bakeries on time and on budget during the first half.

 

Total sales will benefit from the shop opening programme and Ken McMeikan believes that marginally positive like-for-like sales growth over the year as a whole is achievable.

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
  • September 25, 2018PPMA Show 2018
  • September 27, 2018Int'l Fruit Show (eurofruit)
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements