UK-based food-on-the-go retailer Greggs has reported its total sales for the third quarter (Q3) of fiscal year (FY) 2023 grew by 20.8%, compared with the same period in FY22.
For the 13 weeks to 30 September 2023, like-for-like (LFL) company-managed shop sales increased 14.2% against the prior year period.
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In a statement, the company said: “This strong LFL performance, founded on increased customer visits, reflects ongoing development of evening trading and of our digital channels and loyalty programme through the Greggs App.”
Greggs’ evening trade, which includes sales post-4PM, accounted for 8.8% of company-managed shop sales in Q3 FY23, up from 8.3% in the first half (H1) of this fiscal.
In addition, Greggs App also registered growth with 13.1% of company-managed shop transactions scanned through the app, against 10.6% in H1 FY23.
In the year-to-date, the company opened 144 new shops and closed 62 shops, ending the quarter with 2,410 shops, which include 1,928 company-managed shops and 482 franchised units.
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By GlobalDataThe board of Greggs expects the full year 2023 performance to align with its previous expectations.
Greggs expects between 135 and 145 net shop openings in the full year of 2023. It also expects around 40 relocations during the FY.
Greggs added: “Our shop openings are giving customers more convenient access to Greggs, whilst our relocation activity increases our capacity in existing successful catchments.”
The company also anticipates FY23 capital expenditure to be approximately £200m ($241.52m).
Following a successful trial, the company rolled out a delivery service with Uber Eats during the quarter.
