‘Peak Greggs’? Bakery chain’s profits slump and sales slow
by Guardian staff and agencies from World news | The Guardian on (#73Z5D)
Retailer known for its sausage rolls and steak bakes says it has been resilient in a challenging market
Greggs has reported a slump in profits as it bemoaned challenging" market conditions hitting consumer confidence and disposable income, amid pressure to prove the UK has not hit peak Greggs".
The high street bakery chain, known for its sausage rolls and steak bakes, said statutory pre-tax profits fell by 17.9% to 167.4m for the year to 27 December, compared with a year earlier. It also reported a slowdown in sales growth over the start of the new year.
Continue reading...