Christmas Sales Down At Greggs Plc

The Motley Fool

Greggs plc (LSE: GRG) this morning announced its Christmas and New Year trading update, with mixed news.

Like-for-like sales decreased 2.9% for the five-week trading period ending 5 January 2013, with management pointing to a strong 2011 comparative that saw a 5.1% increase. However, total sales rose 4.3%, so the baker wasn't wholly a victim of its own success.