Gregg’s trading update indicates a strong rebound in trading since the re-opening of non-essential retail in April 2021, with positive like-for-like (LFL) sales growth versus FY19, which is earlier than we had expected. This is significant as it has been achieved despite not operating at full potential (ie reduced SKUs, shorter opening hours and other social distancing measures) and competition has been more limited, though both will normalise in coming months. With strong cost controls, includi ....
11 May 2021
Greggs - Recovering better than expected
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Greggs - Recovering better than expected
Greggs plc (GRG:LON) | 3,080 0 0.0% | Mkt Cap: 3,149m
- Published:
11 May 2021 -
Author:
Russell Pointon -
Pages:
3
Gregg’s trading update indicates a strong rebound in trading since the re-opening of non-essential retail in April 2021, with positive like-for-like (LFL) sales growth versus FY19, which is earlier than we had expected. This is significant as it has been achieved despite not operating at full potential (ie reduced SKUs, shorter opening hours and other social distancing measures) and competition has been more limited, though both will normalise in coming months. With strong cost controls, includi ....