RE: Doubters28 Jun 2021 19:37
Today, Greggs said sales had been stronger than anticipated since it last updated investors on 10 May. The baker/retailer added that a continuation of recent performances would have a “materially positive impact” on the full financial year.
Greggs has enjoyed a strong revenues recovery in recent months as Covid-19 restrictions on non-essential retail have been rolled back. The FTSE 250 firm said it had expected to witness increased competition from cafes and restaurants on its takeaway offerings.
Greggs has seen pent-up demand for its edible goods reduce in recent weeks, it said. But it added that “like-for-like sales growth in company-managed shops has remained in positive territory”. Underlying revenues are up between 1% and 3% versus the same period in 2019. Hold on enjoy the ride