Mon 15th Dec 2014 - Greggs – LfLs are ahead of expectations Greggs – LfLs are ahead of expectations: Greggs, the operator of 1,700 bakery outlets, has reported like-for-like sales grew 5.2% in the 24 weeks to 13 December (2013: 0.7%). Year-to-date own shop like-for-like sales are up 4.2% (same period 2013: 1.1% decline). Total sales growth is 3.6% up in the year to date (2013: 3.7%). The company said like-for-like performance is ahead of expectations, particularly given comparison with a strong Quarter Four in 2013 and customers ‘continue to respond well to products, value, service and investment in shops’. The company said it is seeing a favourable trading environment with weather generally helpful and now anticipates full year profits for the 53 weeks to 3 January 2015 to be ahead of analysts’ expectations. Chief executive Roger Whiteside said: “The strong performance that we reported in our September IMS has continued. Trading conditions have remained helpful but there is no doubt that customers are also responding to improvements in our product and service offer and to the investment we are making in the shop environment. Whilst there is still much to play for over the final few weeks of the year we currently anticipate that full year profits will be ahead of analysts’ expectations. We expect to make a further update on trading over the Christmas period in early January.”