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Greggs defies retail downturn

Greggs defies retail downturn

As Britain’s retailers fight persistent declines in the number of visitors to UK high streets, bakery chain Greggs (GRG) has beaten the odds. The group had already upped its profit guidance twice in the past four months following strong sales growth across its stores, but made a third improvement to annual profit expectations this week. Over the seven weeks ended 16 February 2019, total sales rose by more than 14 per cent, reflecting a 9.6 per cent improvement in company-managed shop like-for-like sales.

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