So it was just a ‘blip’ and Greggs coped well with the heatwave, which is very reassuring. 92 per cent of units are now in the Food on the Go format, with units off the High Street conceivably outnumbering those on the High Street in the longer term. No. 4 in coffee, No. 2 for sandwiches and No. 1 in pizza slices in the UK. Will trial first ‘click and collect’ store by the year end, with a commitment to follow the Digital Trend over the next couple of years. Up to 50 units planned for Northern Ireland. Looking to open around 5 ‘Drive Thro’s’ per year. Next trading update in early October when I am expecting a 3per cent increase in like for like sales, as the best trading period for Greggs looms over the horizon.
It’s a Strong Buy for me.