LONDON (dpa-AFX) - Greggs Plc (GRG.L), a bakery food-on-the-go retailer, reported Monday that its total sales in the 18 weeks to May 8 were 352 million pounds, up from 280 million pounds in 2020, but down from 373 million pounds recorded in the pre-covid 2019.
The company's two-year like-for-like or LFL sales for the eight weeks to May 8 was down 3.9 percent, with positive two-year LFL since non-essential retail reopened. The two-year LFL sales for the 18 weeks to May 8 was down 13.5 percent. The two-year LFL sales for the 10 weeks to March 13 was down 23.3 percent.
The company said its two-year LFL growth since April 12 has been positive.
In its trading update, the company said it is reporting LFL sales performance on a two-year basis, against the comparable period in 2019, as trading in 2020 having been severely impacted by the temporary closure of shops.
In recent weeks, following the easing of restrictions across the UK, the company said it have seen a strong recovery in sales levels. There was a significant pick up in sales with the reopening of non-essential retail from April 12, in part reflecting the pent-up demand for retail which has boosted High Street footfall.
Delivery sales continue to contribute positively to performance, representing 8.2 percent of company-managed shop sales in the most recent eight weeks.
Looking ahead, the company said there is considerable uncertainty. For the year, the Board now believes that profits are likely to be materially higher than its previous expectation, and could be around 2019 levels in the absence of further restrictions.
Sales have recovered well in recent weeks as out-of-home activity levels have increased, albeit in the absence of competition from indoor seated catering operators. If restrictions continue to ease in line with current plans, then the company expects overall sales performance for the year to be stronger than previously anticipated.
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