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Greggs boosted by breakfast sales Baker Greggs to start selling croissants
(40 minutes later)
The popularity of its breakfast range has helped Greggs report a small rise in sales, despite "an increasingly challenging trading environment". Greggs is to start selling croissants and pains au chocolat as it seeks to expand its breakfast range.
The UK's largest baker said like-for-like sales - which pulls out new store openings - in its third quarter ending 2 October increased by 0.2%. The announcement came as the UK's largest baker said the popularity of its existing breakfast products had helped it report a small rise in sales.
Greggs said its bacon roll was now its best-selling sandwich. Like-for-like sales for the third quarter ending 2 October increased by 0.2%, down from 0.7% growth in the first half of its financial year.
It is also now expanding the number of breakfast products it sells, adding croissants and pains au chocolat. Its breakfast bacon roll is now the company's best-selling sandwich.
Greggs chief executive Ken McMeikan said: "As we expected, the trading environment has been tough and is likely to remain so, with consumer spending continuing to be constrained and inflationary pressures building for next year.Greggs chief executive Ken McMeikan said: "As we expected, the trading environment has been tough and is likely to remain so, with consumer spending continuing to be constrained and inflationary pressures building for next year.
"We anticipate that like-for-like sales in the final quarter will be broadly flat and therefore marginally positive over the year as a whole.""We anticipate that like-for-like sales in the final quarter will be broadly flat and therefore marginally positive over the year as a whole."
He added that the company was keeping a "very tight focus" on costs.He added that the company was keeping a "very tight focus" on costs.
Greggs currently operates 1,451 shops. It said that its expansion programme was on track , having opened a net 32 new shops in the year to date.