Interim results next tuesday. |
"Greggs is launching a new menu, which features exciting new items and new sharer formats." |
World's first sausage roll vending machine opens in Newcastle
It's the brainchild of Greggs and Monzo. |
Plans for a new National Distribution Centre for bakery chain Greggs at Symmetry Park in Kettering have been announced
The planning application contains details for 311,551 sq ft of logistics space on a 25.1-acre plot as part of Greggs’ strategic growth plan requiring investment in significant supply chain capacity.
Greggs currently has 2,500 shops and its longer-term plans target more than 3,000 shops in the UK. The distribution centre will bolster its capacity to directly supply ambient and chilled products to a growing portfolio of shops.
Tritax Symmetry is also seeking planning permission for an additional 100,000 sq ft to enable Greggs to expand the site further. |
 Greggs is cooling down, says Peel Hunt
Peel Hunt is wary of the growth opportunity at Greggs (GRG) after a site tour with the high-street baker.
Analyst Jonathan Pritchard reiterated his ‘hold’ recommendation and target price of £27 on the Citywire Elite Companies A-rated baker, which climbed 1.7% to £28.58 on Monday.
The tour gave Pritchard ‘a clear indication of the supply chain constraints Greggs faces as it grows, and management presented its solution – a push towards centralised distribution’.
Pritchard questioned whether the ambitious plan to have 3,500 stores is a stretch and wondered whether ‘we are close to hitting peak Greggs’.
‘With franchises increasing in the mix, we reflect on its incremental profitability, forecasting a slowdown into full-year 2028,’ he said.
‘Despite the successful growth post-Covid, we are wary of the remaining white space opportunity. The valuation is relatively high at 22 times price to earnings and we stick to our bottom-of-the-range view for full-year 2024-2026, expecting profit growth to taper in full-year 2028.’
citywire.com |
'Greggs to build state-of-the-art frozen production site in Derby'
The site in Spondon is expected to be operational in late 2026 and will provide additional manufacturing capacity for sweet and savoury products |
atest Dividends
Summary Previous dividend Next dividend
Status Paid Forecast
Type Special Interim
Per share 40p Sign Up Required
Declaration date 05 Mar 2024 (Tue) 30 Jul 2024 (Tue)
Ex-div date 25 Apr 2024 (Thu) 05 Sep 2024 (Thu)
Pay date 24 May 2024 (Fri) 04 Oct 2024 (Fri) |
Analysts' Consensus
Mean consensus
BUY
Number of Analysts
13
Last Close Price
28.5 GBP
Average target price
32.28 GBP
Spread / Average Target
+13.25%
High Price Target
40 GBP
Spread / Highest target
+40.35%
Low Price Target
26 GBP
Spread / Lowest Target
-8.77% |
Wilko has launched a new service across some of its stores with plans for further rollouts across the country.
As part of a trial, the retailer has added food freezers, usually found in The Ranges stores, to two of its Wilko sites. The freezers have been stocked with a range of Iceland supermarket food products, including TGI Fridays, Greggs and Slimming World. The high street retailer has now confirmed that more branches will start selling frozen food as it expands its offerings to customers.
Daily Mirror
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Greggs fans are being offered a special treat at selected stores next week - a giant "yard long" sausage roll box.
But any customers wanting to buy the 3ft box will need to be quick as it will be on sale for one day only. Greggs is launching the huge bakery favourite for National Sausage Roll Day on Wednesday, June 5. |
Northern Echo reporter tries Greggs new fish finger sandwich |
Mmmm Dividend payment day! |
Redburn starts Greggs with 'buy' - price target 3,280 pence |
Berenberg cuts Greggs price target to 3,340 (3,390) pence - 'buy' |
BIG NEWS: Greencore Group (UK, 0386410) will be added to the FTSE 250 Index and deleted from the FTSE SmallCap Index. All changes are effective from 16 May 2024. Full details of index changes available on the FTSE Russell website. |
(Sharecast News)
- Shore Capital has maintained a 'hold' rating on Greggs despite a strong start to the year from the bakery chain, saying that the shares look "up with events for now".
The company delivered "yet another strong trading update" on Monday, according to Shore Capital, reporting a 7.4% increase in like-for-like sales in the first 19 weeks of 2024 - though momentum did ease slightly in the latter nine weeks with LFL sales rising 6.6%.
What's more, the company's estate continues to built out with substantial investment, with 64 new shops opening during the period, taking the total estate to 2,500 stores.
However, the stock trades at a price-to-earnings ratio (PER) of 21 on 2024 estimates, which Shore Capital said was "quite fulsome", especially when compared with the wider FTSE 100 and UK consumer-focused competitors.
The valuation is "up with events for now and, looking at the sideways trajectory of the share, so does the market too," the broker said.
The stock was down 1.6% at 2,774p by 1031 BST, having traded within a tight range off 2,700p to 2,900p for the past three months.
"Substantial growth is planned, as evidenced by the major aforementioned investment programme, which should help to compress those equity valuation metrics in time; an FY26 PER of c17.2x, which is still attractive, is forecast," Shore Capital said.
"However, in the here and now, we not changing our neutral rating on Greggs stocks, noting quite sustained sideways movement and recent relative underperformance as UK stocks have edged off their undeserved lows." |
..... and yet the city doesn't like it |
Solid update. |
hxxps://files.q4europe.com/news-pdf/1514/Greggs_16098125.pdf |
Yes. it's weird.
Greggs hits new milestone with 2,500 shops, |
So if their target is 2600 they are saying sell! |
Deutsche Bank starts Greggs with 'hold' - price target 2,600 pence |
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