Greggs plc (GGGSF)
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Greggs Shares Are Now Selling At A Once-In-A-Decade Discount
Greggs Shares Are Now Selling At A Once-In-A-Decade Discount
Greggs slowing sales reflect loss of pricing power, brokers suggest
Greggs PLC (LSE:GRG) shares plunged 13% as investors took flight at the slowdown in like-for-like sales at the bakery and coffee chain and warning that there are headwinds ahead. Broker Peel Hunt said that while weaker high street footfall over the period was cited, it believes price increases becoming less of a lever to drive sales over the year is compounding the problem.
Greggs cautions over 'headwinds' ahead as revenues shoot past £2bn
Greggs PLC (LSE:GRG) sales surged past £2 billion in 2024 but the coffee and bakery chain cautioned that high street growth had slowed recently due to the subdued economy. Roisin Currie, chief executive, added “lower consumer confidence continues to impact High Street footfall and expenditure,” but said Greggs' value-for-money offer and the quality of its offering “position us well to meet the headwinds we expect to see in the year ahead.
Greggs and Mitchells floored as Deutsche Bank warns on Budget tax hikes
Hospitality groups have been hit with a wave of downgrades by Deutsche Bank following the rises in the minimum wage and National Insurance unveiled by the Labour Government. Greggs is the standout change, with its rating cut to 'sell' from 'hold' with a target price now of 2,400p (2,600p previously) though pub chain Mitchells & Butlers is now a 'hold' from 'buy' (target 280p from 360p).
Pair a steak bake with a Bollinger at Greggs' new Champagne bar
Natives of Greggs PLC (LSE:GRG)'s home turf Newcastle will soon be able to enjoy a flute of Champagne with their cheese and onion bake at a new high-top bar situated in the Fenwick department store on Northumberland Street. Those with elevated taste buds will be able to dip their sausage, bean and cheese melt into a selection of delicately curated dips, including a harissa coconut yoghurt and a romesco sauce with almonds.
Greggs results garner flaky response from analysts
Like a piping hot cheese and onion bake fresh from an industrial-sized oven, Greggs PLC (LSE:GRG)'s third-quarter results were not everyone's cup of tea, but they provided a quick calorie hit to keep investors sated for now. Moving on from that clunky analogy, Barclays PLC (LSE:BARC) acknowledged that despite the strong business model and ongoing growth via new stores, investors may focus on the softer third-quarter performance.
Greggs' growth story shows signs of cooling
Sausage roll slinger Greggs PLC (LSE:GRG) displayed a slower rate of growth in the third quarter against some admittedly tough 2023 comparatives. Total sales were up 10.6% in the 12 weeks to 28 September, compared to 20.8% in the same period in 2023.
Greggs left with big shoes to fill as results loom
Greggs PLC (LSE:GRG) will be looking to serve up another set of solid results when the bakery chain reports on its third-quarter trading next Tuesday, October 1. Having repeatedly impressed in recent months, shares are nearly back at their 2021 peak, leaving Greggs under pressure to keep up the positivity.
BAE, Bloomsbury, Greggs, Tesco highlight best of Briitsh, wealth platform suggests
If the UK stock market is going to continue to recover, what's the best way to take advantage? Some number crunching by wealth platform AJ Bell has thrown up 51 companies ex-trusts that have outperformed the FTSE All-Share over 1, 5 and ten years.
Greggs 'outstanding' track record leaves scope for special dividends - analysts
Greggs PLC (LSE:GRG)'s growing cash balances could offer scope for special dividends over the coming years as the bakery chain continues to impress, Shore Capital analysts say. Analysts from the investment group forecast Greggs' cash to sit above £160 million by late 2027, which they said could warrant rewards over and above its current 2.2% dividend yield.
Greggs hits two-year high as interim results impress
Greggs PLC (LSE:GRG) shares were heated up 6% to a two-year high above 3,100p after the baker reported interim results slightly ahead of City estimates, including a 19% dividend hike. The maker of sausage rolls, stake bakes and now also pizza served up numbers showed like-for-like sales rose 7.4%, which matched the rate reported in the first 19 weeks of the year, and contributed to total sales swelling 13.8% to £960.6 million.
Greggs to open massive new warehouse on Tritax site in Kettering
Greggs PLC (LSE:GRG) has unveiled plans for a massive new national distribution in Northamptonshire on a site owned by Tritax Big Box REIT PLC (LSE:BBOX). To be built at Symmetry Park in Kettering, the new warehouse will cover around 311.000 sq ft on a 25-acre plot and fully enable the bakery chain's planned expansion needs.
