Greggs Plc - Latest Trading Update
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Greggs is a leading UK food-on-the-go retailer,
with more than 2,000 retail outlets throughout the country
Continued strong recovery in performance
Greggs last reported trading performance on 10 May, at which point we had seen a strong recovery in sales levels following the easing of restrictions on non-essential retail across the UK. Since then we had expected to see increased competition as cafes and restaurants were allowed to compete more effectively with our 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 we had anticipated and, if it were to continue, would have a materially positive impact on the expected financial result for the year. We will provide an updated picture when we present our interim results on 3 August 2021.