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You can find the current article at its original source at https://www.theguardian.com/business/2019/jan/09/greggs-unveils-extra-profit-vegan-sausage-roll
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| Greggs unveils extra profit … and it wasn't the vegan sausage roll | |
| (about 1 hour later) | |
| Greggs has raised its profit guidance for the second time in two months, bucking the trend among high street retailers, and said its new vegan sausage roll was an early hit with customers in 2019. | Greggs has raised its profit guidance for the second time in two months, bucking the trend among high street retailers, and said its new vegan sausage roll was an early hit with customers in 2019. |
| Britain’s biggest bakery chain said it enjoyed a strong finish to 2018, thanks to bumper sales of its festive bake and mince pies, as well as hot drinks and breakfast range. | Britain’s biggest bakery chain said it enjoyed a strong finish to 2018, thanks to bumper sales of its festive bake and mince pies, as well as hot drinks and breakfast range. |
| The company is now expecting pretax profits of at least £88m for 2018, having already upgraded its guidance in November when it said profits would be at least £86m. Greggs made a pretax profit of £81.8m in 2017. | The company is now expecting pretax profits of at least £88m for 2018, having already upgraded its guidance in November when it said profits would be at least £86m. Greggs made a pretax profit of £81.8m in 2017. |
| Half-baked: what Greggs’ vegan sausage roll says about Brexit Britain | Half-baked: what Greggs’ vegan sausage roll says about Brexit Britain |
| Greggs has prided itself on adapting products to suit changing consumer tastes, and said its latest creation, the £1 vegan sausage roll, was proving popular with “a broad range of customers”. | Greggs has prided itself on adapting products to suit changing consumer tastes, and said its latest creation, the £1 vegan sausage roll, was proving popular with “a broad range of customers”. |
| The vegan sausage roll hit Greggs’ shelves last week, coinciding with the beginning of Veganuary, a growing movement that encourages people to embrace plant-based diets during January. It is on sale in 950 of Greggs’s 1,950 UK shops. | The vegan sausage roll hit Greggs’ shelves last week, coinciding with the beginning of Veganuary, a growing movement that encourages people to embrace plant-based diets during January. It is on sale in 950 of Greggs’s 1,950 UK shops. |
| Greggs has increased sales and profits despite a tough backdrop for high street retailers struggling with rising business costs, a switch to online spending and faltering consumer confidence as Brexit looms. | Greggs has increased sales and profits despite a tough backdrop for high street retailers struggling with rising business costs, a switch to online spending and faltering consumer confidence as Brexit looms. |
| Total sales rose 7.2% in the year to 29 December, while like-for-like sales – stripping out the impact of sales in shops open for less than a year – increased by 2.9%. In the fourth quarter alone, like-for-like sales were up 5.2%. | Total sales rose 7.2% in the year to 29 December, while like-for-like sales – stripping out the impact of sales in shops open for less than a year – increased by 2.9%. In the fourth quarter alone, like-for-like sales were up 5.2%. |
| Roger Whiteside, the firm’s chief executive, said: “We delivered a very strong finish to 2018 despite the well-publicised challenges in the consumer sector. This performance was broad-based, reflecting the strength of our range of freshly prepared food and drinks, and the strategic changes that we have made in recent years to focus more effectively on the food-on-the-go market. | Roger Whiteside, the firm’s chief executive, said: “We delivered a very strong finish to 2018 despite the well-publicised challenges in the consumer sector. This performance was broad-based, reflecting the strength of our range of freshly prepared food and drinks, and the strategic changes that we have made in recent years to focus more effectively on the food-on-the-go market. |
| “In the year ahead, we will continue to innovate with products designed to reflect changing consumer tastes, and by opening in new locations that make Greggs even more accessible to customers.” | “In the year ahead, we will continue to innovate with products designed to reflect changing consumer tastes, and by opening in new locations that make Greggs even more accessible to customers.” |
| The bakery chain opened 149 new shops in 2018 and closed 50. It now operates 1,953 outlets. | The bakery chain opened 149 new shops in 2018 and closed 50. It now operates 1,953 outlets. |
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