Greggs Share Discussion Threads

[dplewis1] 28/3/2020 21:56

Don't worry it's just spam he's hit 100's of boards with the same link

[bouleversee] 28/3/2020 21:45

We don't all tweet so none the wiser.

[essentialinvestor] 28/3/2020 18:36

Hi Phil, they look shares purchased under the deferred bonus scheme

[philanderer] 26/3/2020 19:20

Greggs PLC - Chief Executive Roger Whiteside buys 11,251 shares and Finance Director Richard Hutton buys 4,627 shares, both at GBP15.89, worth GBP252,237, on Wednesday.

Alliance News

[this_time_its_different] 26/3/2020 13:24

Iceland still selling frozen greggs, so revenue is not zero.

[lenzcrafter] 24/3/2020 14:34

Good to see lots of blue today.

[philanderer] 24/3/2020 13:57

Cheese and salami sandwich for me. 😀👍🏼

[waldron] 24/3/2020 13:20

Now our cornish pasties and somasas are homemade

they are real gooooood

but perhaps not up to greggs quality or shape

[muchodinero] 24/3/2020 13:17

Wow...the longer we stay closed the more the Share price goes up...win win....staff he paid by the government and no ingredients to buy...

[albanyvillas] 24/3/2020 11:25

This is finished. Are the shops shut

[bouleversee] 24/3/2020 11:02

Yes, but if everyone stops producing, shortages will increase and so will taxation with all these handouts. I suppose the suppliers of their ingredients could make them available to supermarkets and we could make our own pies etc. Good luck with that!

[essentialinvestor] 24/3/2020 10:32

They can apply for the BOE lending scheme as per the RNS.

[bouleversee] 24/3/2020 10:29

Why can't they continue their baking (subject to necessary distancing) and come to some arrangement with supermarkets or small shops which sell food to sell or deliver their goods? The Indian shop which delivers my newspapers also sells food and will deliver items I pre-order with my daily paper and the cost is added to my paper bill.
By the time I had finished cutting 3 of my 5 large lawns at 6pm yesterday, I was too tired to cook and wouldn't have minded trying one of their pasties or whatever; preferable to the sardines on toast with tomatoes on top I ended up with.

So far I now have 11 holdings which have axed their dividends.

[muchodinero] 24/3/2020 10:19

If Greggs and other retailers stay closed for three/four months you won't need to worry about the coronavirus, you will have mercenaries knocking your front door down as we enter into a Mad Max world.....

[essentialinvestor] 24/3/2020 10:10

If I've read correctly the cash balances will last around 3-4 months?.

Does anyone read the statement differently?.

[the grumpy old men] 24/3/2020 09:39

JON HOPKINS PROACTIVEINVESTORS


Greggs rises despite closing all its stores, cancelling final 2019 dividend as coronavirus pandemic bites

Greggs’ like-for-like sales in the nine weeks to February 29 were up 7.5% year-on-year, however, in the two weeks succeeding that they were only 4.1% higher and then fell by 9.9% in the week to March 21
Greggs PLC -
Greggs added that providing forward guidance is "impossible", but, in the current environment, it no longer expects to make year-on-year profit growth

Greggs PLC (LON:GRG) is closing all its bakery stores from Tuesday onwards and has decided to cancel its final dividend for 2019 as the coronavirus pandemic bites on the high street

In a statement released late afternoon Monday, Greggs said it intends to maintain employment of its staff at full contract hours for as long as is practicable during the temporary closure, with support from the UK government's Coronavirus Job Retention Scheme.
READ: Greggs holds onto full-year expectations despite February storms

The retailer said: "We, like other consumer-facing businesses, have seen a sharp reduction in footfall in many of the areas where we trade over the last week. Initially, the impact was seen in transport hubs and in central London, and has since affected other towns and city centres across the UK.”

"The rate of decline has been increasing each day as more and more customers heed the government advice on social distancing, and we would expect this to increase further if we were to continue to trade," it added.

Greggs’ like-for-like sales in the nine weeks to February 29 were up 7.5% year-on-year, however, in the two weeks succeeding that like-for-like sales were only 4.1% higher and then fell by 9.9% in the most recent week to March 21, the group said.

In order to conserve cash, Greggs said it has decided to cancel its 2019 final dividend, which is expected to save the group £40mln.

It also expects to save a further £45mln by only completing existing shop projects, deferring new shop openings and planned refurbishments.

It also intends to delay building work, except for its major automated cold store project which is strategically important and will continue.

The baker said it expects to end the week with £60mln in cash.

Greggs said: "There are many forward scenarios but we are planning our finances around the most severe, being that our shop operations remain closed for a prolonged period."

The company added that providing forward guidance is "impossible", but, in the current environment, it no longer expects to make year-on-year profit growth.

"Whilst the outlook during this crisis remains uncertain Greggs is a resilient business with strong growth credentials and we should be confident of its ability to navigate this event and return to growth when the economy recovers," the baker concluded.

In a note on Tuesday commenting on the closure, analysts at Shore Capital placed their 'hold' rating for Greggs under review, saying the company will "clearly experience a loss of trade, gross profit and with ongoing fixed costs, cash outflows".

However, they added that the firm was "blessed by a strong cash balance" and that the cost preservation measures "should limit cash burn and sustain the viability of the business; as should discussions with the [Bank of England] and its lenders".

"In light of these developments, we withdraw our own financial forecasts, underscoring the lack of visibility. However, to us, Greggs is a viable entity that should continue to positively evolve and build its relevance again", the broker concluded.

Greggs shares were 3.5% higher at 1,344.8p in early trading on Tuesday.

[muchodinero] 24/3/2020 09:38

Since Greggs announced yesterday that they were temporarily closing as part of the Government lockdown, the share price has gone up...maybe if they stay permanently shut we could be back up to £25...:-)

[essentialinvestor] 23/3/2020 22:09

Mistakes are the portals of discovery ).

[rochdae] 23/3/2020 22:07

Haha .. yes me neither, but I quite like it, worthy of Joyce!!

[bouleversee] 23/3/2020 21:59

I must look up that word in the dictionary; not one I have come across before.

[thomstar] 23/3/2020 20:43

Its closing and now probably cucked

[bouleversee] 23/3/2020 19:29

I have 8 axed divs.so far. Thank goodness for my annuity and Serps.

[remarkomsoc] 23/3/2020 19:18

iced fingers r a v boring cake imo

[essentialinvestor] 23/3/2020 19:12

Thanks Phil, I've been stuck in for weeks already!.