Jan 9, 2019

Greggs: Quorn movie star

UK bakery chain Greggs is almost as good at pies as it is at PR. "Vegan-friendly" sausage rolls are its latest riff on the zeitgeist. The chain said they helped lift like-for-like sales 5.2 per cent in the fourth quarter of the year. Greggs has combined an appetite for column inches with astute estate management. Greggs was still caught out in last year's retail rout. Greggs should be able to increase outlets by a quarter to 2,500 in the long term thanks to low cannibalisation rates, say analysts at UBS. Only 28 per cent of shops have another Greggs located within 10 minutes walk, compared with 42 per cent of Costa Coffee caf├ęs.

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