Oct 4, 2022
Greggs defies gloom with sales growth despite price rises
UK bakery chain Greggs has defied hospitality industry gloom with a 15 per cent rise in sales in the most recent quarter, despite pushing through a series of price rises in the past year. Compared with the same period last year, the group recorded a 14.7 per cent increase in total sales and a 9.7 per cent increase in like-for-like sales. Its share price was up nearly 10 per cent to £18.92 in early afternoon trading in London. The strong performance came as the retailer pushed through price rises of between 5p and 10p across its product range. The best-selling Greggs sausage roll now costs £1.15p, up from £1.10p when the last price rise was introduced in May. In December last year, before the succession of price increases, it cost just £1.
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