Greggs' sales performance a bit flaky

Much as we would like to reprise our 'Greggs on a roll' headline the interim management statement (IMS) from the sandwiches and baked food chain did not allow us to do so.

Much as we would like to reprise our 'Greggs on a roll' headline the interim management statement (IMS) from the sandwiches and baked food chain did not allow us to do so.

Like-for-like (LFL) sales fell 2.6% in the 14 weeks to October 6th, and while this was an improvement on the 3.5% deterioration in the second quarter, Greggs was honest enough to say it was a smaller recovery than it had anticipated. Worse still, it expects sales to remain negative in the final quarter.

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