Greggs warns on inflation but says sales bounced on return to the office
Daily MailGreggs has warned of rising cost pressures, but left its full-year outlook unchanged as sales of chicken goujons and potato wedges helped boost trade. Cost pressures: Greggs has seen a surge in the cost of raw materials, energy and staff Like-for-like sales growth in the most recent 10 weeks to 14 May, when pandemic lockdowns in 2021 were easing, had averaged 15.8 per cent and Greggs expects this figure to continue to normalise going forward. Greggs said in March it did not expect material profit growth in the current year on the £145.6million made in 2021 due to the surging cost of raw materials, energy and staff. Ross Hindle, an analyst at Third Bridge, said Greggs faces multiple pressures, despite seeing sales bounce back strongly from the pandemic.
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