Love it or loathe it, Greggs’ vegan sausage fuels profits
Surging demand for new vegan sausage rolls and healthier snacks has helped Greggs up its full-year profit outlook.
The bakery chain, which has nearly 2,000 shops across the UK, reported an 11.1 per cent jump in like-for-like sales over the 19 weeks to 11 May after it launched the vegan sausage roll across all its stores.
Greggs made the move after it saw demand outstrip supply earlier in the year when the product was only available in some shops initially.
The group said in a stock market update that sales were now set to beat forecasts for 2019 despite strong trading from a year earlier, with underlying profits expected to be “materially” higher than predicted.
The firm said it had launched another vegan product as part of its new summer menu – a new and improved Mexican Bean & Sweet Potato wrap – as it continues to tap into the growing food trend. The latest menu also features pasta salads, fruit and cold drinks.