Mar 3, 2020
Food-to-go retailer Greggs says poor weather hits sales
Greggs, the food-to-go retailer, has warned that, despite record profits last year, storms that hit the UK last month have caused a "Significant" slowdown in sales. The Newcastle-based high street food chain said that the stormy weather, which caused widespread flooding across the UK, had forced it to shut a supply site in south Wales temporarily and had hit customer demand. Overall, total sales for the year to the end of December were up 13.5 per cent to £1.17bn, in line with analysts' forecasts. Greggs has transformed itself from a purveyor of bread and buns into an on-the-go food retailer as consumers searched for quick and easy meal options. Shares in Greggs fell 0.4 per cent in early London trading on Tuesday.
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