Greggs' profit shoots up

Greggs' profit shoots up

British bakery chain Greggs has seen its profits rise 41 %, which has resulted in a record 80 million euro profit.

Change of course

The chain's total turnover grew 5.5 % to 804 million pounds (1.1 billion euro), while its like-for-like turnover grew 4.5 %. Profit grew considerably, from 41.3 million pounds (56.9 million euro) to 58.3 million pounds (80.3 million euro) in its past fiscal year.

 

A change of course, transforming its shopping experience and its product range, has helped Greggs to reach new heights. It has also lowered the price of plenty of base ingredients.

 

The board also feels the current fiscal year will prove to be a good year: the first few weeks of its fiscal year have already resulted in a 6.3 % like-for-like turnover increase.

Questions or comments? Please feel free to contact the editors


Arket Brussels opens: discover H&M's latest concept

14/09/2017

On Friday 15 September, H&M Group’s new store formula opens its doors on the Guldenvlieslaan in Brussels. The press got a sneak preview and discovered a surprising mixture of fashion, interior design and food. 

Nordstrom opens store without storage

13/09/2017

Fashion chain Nordstrom will open a new store formula in Los Angeles next month. Customers will only be able to get advice and try out clothing. Purchases can be picked up at the store at a later date.

Primark benefits from weaker British economy

12/09/2017

Irish fashion chain Primark takes full advantage of the weak British economy, which prompted its parent company AB Foods to adjust its full-year forecast. The chain will also continue its expansion plans.

Participatiemaatschappij Vlaanderen invests in FNG

11/09/2017

Government investment fund Participatiemaatschappij Vlaanderen (PMV) will invest 15 million euro in fashion group FNG in return for 5 % of its shares. The money will go towards international expansion.

Gap Inc will focus on Old Navy and Athleta

08/09/2017

American fashion company Gap will alter its internal strategy and turn its attention to Old Navy and Athleta. Gap and Banana Republic, which both received the most attention up until now, will have to step aside.

Global Fashion Group cuts losses

08/09/2017

Global Fashion Group, the fashion group founded by investment group Kinnevik and Rocket Internet, managed to lower its losses even more in the second quarter. On top of that, turnover grew more than 25 %.

Back to top