Bakery retailer Greggs has posted strong sales for the third quarter of the year in its interim management statement.
Its own shop like-for-like sales grew 5.4% for the 11 weeks to 13 September 2014 while year-to-date own shop sales were up 3.9%. Greggs total sales for the 11 weeks grew 4% and year-to-date total sales increased by 3.5%.
It attributed the growth in sales to increased product choice, improved service, offering better value and investment in shop refurbishment.
Chief executive Roger Whiteside said: “This strong performance reflects a positive response from customers to new product initiatives, improved service, better value and our investment in shop refurbishments alongside more favourable trading conditions.”
The chain is also on track with its estate overhaul and refitted 153 shops in the year so far. It has opened 32 shops this year and shut 43 sites which Greggs deemed as “poor performing” as part of its accelerated closure programme. This brings the Greggs estate to 1,660 shops including 42 franchised operations and it expects site numbers to be down for the year as a whole.