The British bakery and fast food chain Greggs, stressed that cost pressures increased, as it announced an increase in first-quarter sales, which were more favorable in relation to trade volume restrictions due to the coronavirus, in the corresponding period of 2021.
Greggs kept its estimates for the whole year unchanged.
The group had warned in March that it did not expect significant profits in the current year from 14 145.6 million ($ 178.2 million) in 2021, due to rising costs of raw materials, energy and staff.
“Looking to the future, cost pressures in the market have increased and consumer incomes will be clearly under pressure in the second half of the year,” he said.
“We will continue to work to mitigate the effects of cost pressures, while protecting the company’s reputation for excellent value,” he added.
Greggs said comparable in-store sales increased by 27.4% in the first 19 weeks of 2022.
The increase in comparable sales in the most recent 10 weeks until May 14, when restrictions on the pandemic in 2021 eased, averaged 15.8%.
Source: Capital
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