Greggs, the bakery chain has reported its sales growth has slowed since the beginning of this year due to weaker high street conditions in March.
Figures show that like-for-like sales increased 3.7% in the first 18 weeks of this year, compared to a 6% rise the previous year.
Greggs commented by saying conditions on the high street were "softer" in March, but that they had recovered in recent weeks.
Analysts have described the company’s performance as “robust” as shares rose.
In a statement, it said: "As has been widely reported, conditions on the high street were softer in March before recovering in recent weeks; these conditions were reflected in our own performance.
Adding "Input cost inflation remains low despite increased wage costs... we expect to make progress in line with our previous expectations.”
Analyst at Shore Capital, Clive Black commented: "We deem such a trading performance to be very robust indeed against what has been a demonstrably challenging backdrop for the majority operating on the UK high street, tough conditions that have also embraced the likes of Next.”
