PIE and pasty giant GREGGS enjoyed a “strong” end to 2016 boosted by sales of its latest healthy offering — green tea.
The FTSE 250 baker is known — and loved — for its calorific treats but is increasingly including healthier options on its menu to attract fresh customers.
It now sells peppermint tea as well, it was revealed today.
And its established Balanced Choice range, including salads and yoghurts, continue to give it a healthy sales kick.
This week it has also trialled a new delivery service in London, which could soon be rolled out around the country.
Aimed at offices and parties, the minimum spend is £20, with delivery up to 0.4 miles from two branches in London’s City, on Cheapside and Eastcheap.
Innovations helped Greggs to raise its sales by 7 per cent last year, compared to 2015. Sales over the last 13 weeks of 2016 were up 6.4 per cent year on year.
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Although boss Roger Whiteside welcomed the rises, he warned of “industry headwinds” in 2017.
He said inflation was “putting pressure on discretionary spending”, but Greggs would “resist price increases as much as possible”.
The baker opened 145 new shops in 2016, and had 1,764 outlets on the last day of the year.
Russ Mould, investment director at AJ BELL, said: “Bakery giant Greggs was one of the FTSE250’s top performers in early trading following a bullish year-end trading update.
“Greggs had a particularly strong Christmas and has now seen like-for-like sales increase for 13 consecutive quarters with food-on-the-go continuing to be the main driver.”
Greggs has also trialled its new delivery service in its home city of Newcastle — and there are plans to offer it in Manchester.
Mr Whiteside admitted it was “late to the party” on deliveries, but it is also developing a click-and-collect service.
The chain will also extend its hot drinks menu in the coming months, offering options such as vanilla latte.
Greggs’ share price closed up 1.2 per cent after climbing as much as 3.2 per cent in early trading.
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