Greggs cheers up – thanks to its doughnuts
A NEW range of “superstar doughnuts” put the icing on the cake of a sweet third quarter performance by high street baker Greggs.
The chain has sold more than 1.4million of the doughnuts – which come in flavours including Jaffa Cake, strawberry milkshake and triple chocolate – since launching them five weeks ago.
Chief executive Ken McMeikan said customers were buying the treats to cheer themselves up in the downturn, adding: “Times are tough but people want to feel there’s something enjoyable about life.”
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Greggs, which has more than 1,500 stores, said like-for-like sales increased 0.8 per cent in the 13 weeks to October, up from 0.4 per cent in the previous six months.
Times are tough but people want to feel there’s something enjoyable about life
Customers were attracted by promotions such as a sandwich and drink from £1.89 and two steak bakes for £2.
McMeikan said: “While the outlook remains challenging and people have less money to spend, Greggs is supporting them.”
The chain launched a range of breakfast products last year and has begun selling frozen sausage rolls in 700 Iceland shops. The shares rose 22p to 483¼p.
