Bakery chain says fewer shoppers on high streets over Christmas also to blame in ‘more challenging market’

Greggs, the UK’s biggest bakery chain, has reported slowing sales growth over the festive period, blaming weakening consumer confidence and fewer shoppers on high streets.

The company said its total sales rose by 11.3% to just over £2bn last year. Company-managed shops posted a 5.5% increase in sales at established outlets over the year. However, growth more than halved to 2.5% in the fourth quarter – the 13 weeks to 28 December – reflecting “more subdued” high street footfall.