Being a lad originally from the North East, I grew up on Greggs pasties. Now I find myself having 'Joe Wicks'-styled lunches and snacks consisting of Greek yoghurts, rolled oats, berries and the like. So its no surprise to me that Greggs has moved with these trends and even better, has been successful at it.
It may just be the January effect, but the old favourites, so indulgent at Christmas such as pork pies, have even gone healthy or 'gluten-free'. This is good for businesses as well as good for our waistlines.
However, I agree with Chief executive Roger Whiteside that rising costs are still on the horizon for 2017. Most businesses have been able to pass through the change in 2016 with few real retail standoffs, bar 'Marmitegate', given the sweeping nature across the sectors and the visible currency impacts. Ultimately, the consumer will decide what price they are willing to pay and we may see the balance sheets of the 'middle of the road' and fringe players tested heavily as the year unfolds.
Greggs, best known for its sausage rolls and pasties, said total sales were up 7 per cent for the year ended 3 December as it continued to benefit from its low-calorie “balanced-choice” products, such as salads and yoghurts. Read more Greggs unveils new 'healthy' sourdough pasties Shares in the high street chain jumped 4 per cent on Tuesday. Like-for-like sales went up by 4.2 per cent for the whole of 2016, said the food retailer, while Christmas trading was boosted by festive bakes, mince pies and burritos.