FDBusiness.com

New Shop Openings Drive Sales at Greggs

 Breaking News
  • UK Grocery Prices Rising at Fastest Rate in Four Years The latest grocery market share figures from Kantar Worldpanel, for the 12 weeks to 5 November 2017, show UK supermarket sales have increased in value by 3.2% year-on-year in the run up to Christmas. Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, explains: “Volume sales have increased by less than 1%, meaning it’s [...]...
  • Alcohol Minimum Unit Pricing to Go Ahead in Scotland The UK Supreme Court has ruled that minimum unit pricing for alcohol, which was passed overwhelmingly by the Scottish Parliament in 2012, can now proceed. Scottish Health Secretary Shona Robison has welcomed the decision and confirmed she intends to make a statement to Parliament shortly, setting out the Scottish Government’s next steps. Following the unequivocal backing [...]...
  • GEA Brings Together Technologies to Supply Extended Production Line For BMI GEA has recently been selected to supply an extended pasta filata cheese production line for BMI in Jessen, Germany. With this exemplary project GEA brings together its joint cheese-making expertise, resulting from its acquisition of de Klokslag and CMT in 2014 and 2015 respectively, with GEA’s flow and processing experience to provide a single offering for this [...]...
  • Bosch Packaging Technology Wins German Design Award 2018 The Sigpack VPF (Vertical Platform for Flat Pouches), the first freely scalable flat pouch machine from Bosch, has been honoured with the German Design Award 2018 in the Excellent Product Design category. The German Design Council presents the prestigious award on an annual basis. The German Design Award is the second prestigious accolade for the [...]...
  • Premier Foods Returns to Revenue Growth Premier Foods, the UK convenience food group, has reported group revenue of £353.3 million for the 26 weeks ended 30 September 2017 – an increase of 1.5% on the prior period – with Branded revenue in line with last year at £295.4 million while Non-branded revenue increased by 10.1% to £57.9 million. Group reported half year [...]...

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

  • November 28, 2017Fi Europe
  • December 4, 2017Plastics and Paper in Contact with Foodstuffs 2017
  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements