Greggs' profit shoots up | RetailDetail

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


Adidas wants to strengthen bond with small retailers

15/07/2018

German sportswear giant Adidas says it wants to strengthen its bond with small-scale retailers after they claimed Adidas is too aggressive in pushing its web shop, especially as they feel the brand is favouring large international chains as well.

Several candidates to take over Men at Work

12/07/2018

There are several takeover candidates for both the Dutch and the Belgian stores of the bankrupt clothing chain Men at work. The curator is confident an agreement should be reached today in Belgium.

Burberry sales increases thanks to new strategy

11/07/2018

The new strategy of the British fashion brand Burberry starts to render: the company had a 3% increase of revenue in their own stores last quarter. In total, Burberry has now a revenue of 479 million pounds (520 million euros).

FNG moves to Brussels stock exchange

06/07/2018

Belgian fashion group FNG has collected 60 million euros by issuing new shares. The new shares will be traded on the Amsterdam Stock Exchange and - for the first time - on the Brussels Stock Exchange as well.

Athleteshop ends its run

02/07/2018

Dutch sports web shop Athleteshop has filed for bankruptcy, after an abysmal year in which strings of complaints led to all sorts of problems. Social media and review sites were flooded with customers complaining about late deliveries.

Alibaba goes Turkish with stake in Trendyol

29/06/2018

Alibaba is the new strategic partner of Trendyol, one of the best-known e-commerce companies in Turkey. With this partnership, the Chinese retailgroup strengthens its presence in Europe.