Accessories Amazon Asda Christmas Expansion & Franchise Fashion HR News High Street John Lewis London Marks & Spencer Media News Results Retail Retail and Consumer Industry Retail news Sainsbury's Store Tesco UK brand china consumer deal deals and rumours department department stores e-commerce electricals expansion fashion news food grocer group launch luxury morrisons my online online retail people profit property retail property retailer sale sales supermarket waitrose
Greggs reports sales slump as consumers continue to cut back Thursday, 11th October 2012
Greggs has warned that its customers are cutting back their spending habits as the high street bakery reported a same-store sales dip of 2.6 per cent in the 14 weeks to 6 October.
The result was a worse-than-expected improvement on a 3.5 per cent decline in its second quarter.
Greggs has said it now expects consumers to continue to “show restraint” in its final quarter.
According to a Reuters poll of nine analysts, the group is expected to post a full-year pre-tax profit of £54.6 million.