In a brief trading update issued today, food-to-go chain Greggs said its sales recovery has been stronger than anticipated in recent weeks.
The company last reported on its performance on 10 May, at which point it said it had seen a strong recovery in sales levels following the easing of restrictions on non-essential retail. Since then, Greggs stated that it had expected to see increased competition as cafes and restaurants were allowed to trade more normally.
The group highlighted that in recent weeks the impact of pent-up demand for retail has reduced. However, it revealed that like-for-like sales growth in its company-managed shops had 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 we had anticipated and, if it were to continue, would have a materially positive impact on the expected financial result for the year,” Greggs said.
Earlier this year, Greggs had reported its first full-year loss for 36 years after its sales fell by a third during the pandemic.
The company will provide full figures with its interim results at the beginning of August.
