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Jan 28 2020, 10:10 GMT
The muted start to FY 2020 was not unexpected in the context of a challenged retail backdrop and strong prior year comp. Like-for-like growth in Food-to-Go (FtG) (+0.5%) was driven primarily by salad and sushi adjacencies — core sandwiches were broadly flat (70% of FtG). Full-year growth and profit delivery is anticipated to be H2 weighted with management retaining its conviction around the path to growth rebuild. We anticipate no material change to our FY 2020 forecasts.
Jan 28 2020, 10:10 GMT