High Street bakery chain Greggs has reported a stronger than expected recovery in sales from the Covid pandemic since May 10, with like-for-like growth of 1%-3% against the same period in 2019 before the crisis began.
“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 on Monday.
The company, known for its popular vegan sausage rolls, said it had expected to see increased competition as cafes and restaurants were allowed to compete more effectively with its range of takeaway foods as lockdown restrictions were eased.
“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 1% and 3% when measured against the same period in 2019,” Greggs said.
