Greggs plc (GRG.L) reported that its total sales for the 17 weeks to 27 April 2013 grew by 3.0 percent, driven by new shop opening programme and the continued development of wholesale and franchise sales.
Like-for-like sales in own shops in the 17 weeks to 27 April 2013 were 4.4 percent lower, particularly impacted by adverse weather in January and March, Greggs said. The Group said it is are continuing to experience lower footfall across much of the estate although average transaction values have increased marginally.
The Group does not expect a significant improvement in the difficult underlying market conditions in the short term. Based on the current own shop like-for-like performance, the Group believes that profits for the year are likely to be slightly below the lower end of the range of market expectations.
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