Https://www.thisismoney.co.uk/money/markets/article-14249629/The-Nigella-effect-pay-Greggs-festive-advertising-campaign.html |
This is going to come as particularly bad news for all the failed Greggs share rampers:
The cost of employing a full-time worker on the National Minimum Wage will rise by £2,367 this year to more than £24,800 per person, with more than £5,000 of that going to the Treasury, according to new analysis by the Centre for Policy Studies.
Greggs will now either have to increase food and beverage prices or start cutting staff numbers.
Cheers |
RBC starts Greggs with 'outperform' - price target 3,240 pence |
'Bakery chain at centre of gentrification row seeks £500m sale'
Gail’s appoints advisers to kickstart auction after major expansion boosts value
OR |
It was a very difficult decision yesterday afternoon to dump these and buy Metro Bank, but fortunately, all looks good this morning!
Metro has the potential to at least double within a short period if it can show profits at year-end, I think. |
 Telegraph
Greggs plunges amid warning Budget will deliver £100m blow
Shares in Greggs suffered their sharpest drop in more than a year after a warning from analysts that the Budget will land it with nearly £100m of costs over the next two years.
The bakery chain’s stock fell as much as 7.6pc in their steepest decline since August 2023 after Deutsche Bank downgraded its advice to investors on the company from “hold” to “sell”.
The bank said Rachel Reeves’s speech was “disproportionately relevant to the labour-intensive leisure sector”, mainly as a result of the increase to employers National Insurance contributions (Nics) and the minimum wage.
Greggs had a “material exposure” to the impending shock because it employs 30,000 staff and has a relatively low operating margin of less than 10pc, meaning it has less room in its finances to swallow the increase in costs.
It said the Budget would add £45m of costs to the business this financial year, followed by £50m in its finances for 2026.
This would hit Greggs pre-tax profits this year by 23pc, it said. |
The Directors sold at the right time. That was lucky! |
She announced that at the budget so doubt it's that news that's causing the drop. |
All down to Reeves increasing employers' NIC's , right across the retail sector today , SBRY, TSCO, MKS |
Hope that's not the reason for the share drop today! |
Greggs will only serve you a sausage roll if you ditch your headphones |
FWIW :-
Deutsche Bank Research cuts Greggs to 'sell' (hold) - price target 2,400 (2,600) pence |
Greggs begins 'trial' at shops after 'listening to what customers want'
Greggs, which has outlets across Birmingham, has introduced pasta boxes in two flavours - mac and cheese and meatball pasta bake. |
Try a steak bake,that's brown gunge. |
I had a chicken bake recently. It was full of revolting white gunge. |
I imagine tomorrow will be worse still |
Check that, it's the whole portfolio down the cr@pper ;-) |
Something not right here ....started yesterday afternoon. |
Nigella Lawson revealed as the face of Greggs Christmas ads – but she won’t plug high-street bakery’s most famous item
Nigella will just be pushing the chain's range of festive fare in the adverts |
Greggs to open champagne bar for Christmas
Bakery chain will serve six of its best-selling products in Newcastle’s Fenwick food hall
Greggs will open a 16-seat Champagne bar for Christmas where its sausage rolls and bakes will be served with glasses of Perrier-Jouët...
or |
Finance Director dumped 65,000 shares @ £28.51 on tuesday |
Thank you for your reply Philanderer |
Usually a 12 month target. |
Could anyone kindly please exlain these broker targets timescales?
For example when is Liberum expecting Greggs to reach £33?
Many thanks |
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