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Proactive UK has moved.
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
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The Markets
by Proactive
Proactive UK has moved.
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Retail

Greggs gets breakfast boost but sales slow

Bakery chain says fourth quarter like-for-like sales rose more slowly

Breakfasts and new-look hot sandwiches drove tastier sales at Greggs (LON:GRG) but the bakery chain said growth slowed in the fourth quarter.

Greggs said sales of sandwiches and drinks were particularly strong in the year to January 2 and a new hot food menu with better sandwiches and soups was selling well.

Seasonal favourites such as mince pies and festive bakes boosted sales over Christmas and the New Year.

Customer demand for breakfast-on-the-go continued to make it the company's fastest-growing part of the day, with sales of coffee continuing to grow strongly.

"We plan to add 'flat white' and an improved 'mocha' to our coffee menu early in the New Year," the group said.

Total sales rose 5.2% on a comparable 52 week basis and company-managed shop like-for-like sales increased 4.7%.

But Greggs said like-for-like sales rose more slowly, at 2.3%, in the fourth quarter as it struggled to match a strong performance last year.

The number of customers also dropped in some of its shops. Sales over the Christmas period were in line with the overall trend for the fourth quarter.

Greggs said it still expected full-year results to match its previous expectations when it announces annual results on March 1.

Chief executive Roger Whiteside said: "In the year ahead we will continue with the implementation of our strategic plan to enable the business to compete more effectively in the food-on-the-go market."

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