Greggs's 16-week sales up 7%

British bakery retailer Greggs has reported in its interim management statement that total sales in the first 16 weeks of the company's 28-week second half, covering the period to October 4, 2008, as a whole increased by 6.7%, including like-for-like growth of 3.9%. After the previously reported like-for-like rise of 5.8% in the first six weeks, sales growth slowed over the following seven weeks before recovering more recently, said Greggs. The company added that the period of slower growth reflected the poor weather throughout August and early September 2008, compared with favorable conditions in... [read full story]