Greggs slumps despite further sales growth

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Greggs slumps despite further sales growth
Luis Santos /
Master Investor Magazine

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The price of shares in FTSE 250 bakery chain Greggs (LON:GRG) dropped 10.96% to 1,860.84p (as of 14:00 BST) after it published a trading update for the thirteen weeks to 28th September. The company said that sales for the quarter were up by 12.4%, which was slower than the 13.9% for the year to date, but management had expected a declining rate of improvement due to strong comparatives for the later parts of 2018.

The firm said that it was building stocks of key ingredients and equipment to mitigate the effects of any disruption linked to leaving the EU, but retained its existing guidance for the full year.

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