Continued growth at Greggs captured the attention of all the papers this morning. The popularity of healthier salads and yoghurts at Greggs helped the high street chain improve sales by 5.6% in the third quarter (The Mail). Its breakfasts also helped fuel growth, with The Telegraph noting that more people are munching on a Greggs before work. A column in The Telegraph calls Greggs “one of the great corporate success stories of the past two decades”. The Guardian highlights that this time last year Greggs served up its debut range of hot sandwiches – and this autumn it is upping the ante and bringing out burritos.
However, The Financial Times sounds a note of caution as Greggs warned that ingredient prices will rise next year in part owing to the weaker pound. The Grocer has a similar story after speaking with CEO Roger Whiteside yesterday.
The latest shop prices index by the BRC and Nielsen also gets an airing this morning. The Telegraph writes that the supermarket price war has driven down shop prices despite the falling pound. Food price deflation accelerated with prices down 1.3% on the year, a faster fall than the 1.1% dip recorded in August. The Times writes that the grocers are feeling the pain of a thousand price cuts. “If you felt you were getting more bang for your buck when you went shopping last month, that’s because you were. Stores dropped their prices in September.”
Doughnut maker Krispy Kreme UK has been sold to its American parent, ending hopes of a London listing for the snacks business (The Telegraph).
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