BAKERY chain Greggs today hailed a "resilient" performance over the festive period with a 4.3% rise in sales.
Like-for-like sales were down by 2.9% against 2011’s strong performance when they rose by 5.1%. However, the figures for five weeks to January 5, were boosted by 3% growth in new wholesale and franchising revenues.
The trend over Christmas appears to echo the full-year performance, which Greggs gave a taste of in today’s trading update.
In the year to December 29, total sales rose by 4.8%, against driven by a 2.8% in new wholesale and franchising revenues as like-for-like sales dipped by 2.7%.
Greggs opened 100 stores during the year - a record number - taking its total to more than 1,670 retail outlets nationwide.
Chief executive, Ken McMeikan, who announced his resignation before Christmas in order to take up a new role, said: “During the Christmas period trading highlights included selling a record 8.5 million of our award winning shop-baked sweet mince pies, a seven per cent increase on last year.
“Our new channels to market of wholesaling and franchising also continued to perform well, adding 3% to our total sales growth.
“'Bake at home' sales of Greggs-branded products through more than 750 Iceland stores performed strongly over the period with 11 product lines available including our newly launched cocktail sausage rolls.
“We now have 11 franchised shops in motorway service stations across the UK in partnership with Moto Hospitality Limited, with more planned to open in 2013.
“We anticipate that we will report full year results broadly in line with expectations when we make our preliminary announcement on 13 March 2013.”