‘Peak Greggs’? Bakery chain’s profits slump and sales slow

Retailer known for its sausage rolls and steak bakes says it has been resilient in a challenging marketBusiness live – latest updatesGreggs has reported a slump in profits as it bemoaned “challenging” market conditions hitting consumer confidence and disposable income, amid pressure to prove the UK has not hit “peak Greggs”.The high street bakery chain, known for its sausage rolls and steak bakes, said statutory pre-tax profits fell by 17.9% to £167.4m for the year to 27 December, compared with a year earlier. It also reported a slowdown in sales growth over the start of the new year. Continue reading…