Greggs Shares Hit Highest Level Following Launch Of Vegan Sausage Roll

The animal-free alternative to its traditional meat and pastry snack was launched in January amid much fanfare and publicity
Author:
Publish date:
Greggs vegan sausage roll

The vegan sausage roll has been a huge success (Photo: Greggs)

UK high street bakery Greggs has seen sales spike following the launch of its vegan sausage roll in January this year.

According to the Financial Times, Greggs bosses have now 'upgraded their profit expectations for the year' following 2019's 'exceptionally strong start'. The huge amount of publicity around the vegan launch has been credited for lifting overall sales at the chain.

"In the seven weeks to February 16, total sales were up 14.1 percent, compared with a 6.2 percent rise in the same period in 2018, while like-for-like sales rose 9.6 percent versus 2.9 percent previously," reported the Financial Times.

As a result, Greggs has seen its shares rise more than more than 10 percent to their highest ever level, up to as much as £17.80 since the launch.

Greggs vegan sausage roll

Greggs launched its vegan sausage roll in January - to capitalize on Veganuary momentum - in around half of its stores. Within weeks, it was selling out in bakeries across the UK.

The chain recently announced it would be rolling the snack out to all its 1,900 outlets - with every store being stocked by March 8.

'Vegan hype'

According to Greggs Chief Executive Roger Whiteside, the brand is surprised at how much attention the vegan sausage roll has whipped up. He revealed it is the fastest selling new product Greggs has launched in six years.

"With all the hype surrounding it, it sold out straight away and we have 900 shops who didn't get it who are screaming out for it, so we are chasing our tail getting availability running," he added.

"We didn't know if it would sell or not. Now we know it's selling out we need to get it out there. The priority is to get it into existing shops, and then the other shops who didn't get it will get it. We are pulling out all the stops to get it out there as quickly as possible."

?Customers can check local stock via Greggs' new Vegan Sausage Roll Locator