Greggs Share Discussion Threads

[henryatkin] 29/9/2020 10:14

Greggs need people travelling through airports, train stations and going back from homeworking to office working in the cities. That will take a long time yet but Greggs have exceptional management & things like expanding Deliveroo will help speed the recovery. Picking the bottom will be difficult in my opinion but I fancy around £8.

[mayar] 29/9/2020 10:11

I would imagine results don't mention profit levels because the company is in discussion with unions re reduced staff hours and possible redundancies.

I agree with tomc85 that the chart shows grg in a falling wedge pattern that must come to an end before £10. Positive divergence between the share price and rsi, over the March, Aug and Sept lows, suggests to me that breakout north is more likely. Mention of £5, £6 ,last seen in 2014 sounds like de-ramping nonsense.

Short positions have declined to zero.
I made money trading the last bounce up and continue to hold a few from £14.40 ish.

[philanderer] 29/9/2020 10:10

Where is there value ?

[barius] 29/9/2020 10:05

Back to sub-£5 over the next month or so. No value here.

[philanderer] 29/9/2020 09:47

I reckon it's the virus that's the problem. There's no law preventing you going to Greggs.

[essentialinvestor] 29/9/2020 09:46

On GRG you need to look at the 5 year chart fwiw.

People are mislead by the parabolic move in 2019.


If trading was about to revert back to 2019 levels that would be different,

unfortunately those levels of profitability may not been seen for a while.

[elcapitalthegreat] 29/9/2020 09:45

hate to do this, i love the company, but bozo is killing the high street....as well as the care home dwellers

im going short

[cl0ckw0rk0range] 29/9/2020 09:27

Under 10? And the rest.

[phar lap] 29/9/2020 09:26

Greggs are still being rated as a growth share.
A double whammy of falling profits and a de-rating to a sector average pe (15-17)could see the share price under £10.

[philanderer] 29/9/2020 09:15

As could everything the way things are going.

[phar lap] 29/9/2020 09:13

Brokers estimate for the year ending December 2021 were.
Profits of 51.5M and an eps of 47.3p.
Forward pe over 24.
Could fall much further.

[philanderer] 29/9/2020 09:10

'Greggs hints at job cuts as furlough scheme ends'


Bakery chain Greggs has hinted at possible job cuts as the government's furlough scheme ends.

The company, which employs 25,000 workers, expects business activity to "remain below normal for the foreseeable future".

It said it had reviewed staff costs and was currently consulting with unions and employee representatives.

Greggs said it wanted to reduce the risk of job cuts by putting people on reduced hours.

However, it is not clear if the company will use the government's new Job Support Scheme where employers and the state top up workers' pay who are on fewer hours.

The scheme will replace the existing furlough programme which is coming to an end on 31 October. The vast majority of Gregg's 25,000 workforce had been placed on furlough during lockdown.


BBC

[philanderer] 29/9/2020 09:03

As with many businesses things have changed and for many older people that will mean forever.

Greggs......"Adapting to uncertain trading outlook"

[bouleversee] 29/9/2020 08:54

I am surprised the share price hasn't gone up after the T.S. which I thought was very encouraging. I think they have done very well in the circumstances and are finding a way round them. I'm happy to give the management the benefit of the doubt and certainly will not be selling at this low price; might even top up though as a family (having donated my original holding to children and grandchildren and bought more for self in ISA) we have quite a chunk already. I have every confidence in the management to manage the situation. Refreshing to read they are paying their rents on time contrary to many who could do so perfectly well but are passing the buck to landlords. Honesty and ethics count for a lot in my book.

[essentialinvestor] 29/9/2020 08:42

As the GRG share price was near £17 at the time of that post bergster,

I'm surprised you were "topping up" if you anticipated £6.

[essentialinvestor] 29/9/2020 08:40

bergster56 - 10 Jul 2020 - 08:18:17 - 4173 of 4353 Greggs with Charts & News - GRG
I’ve been in several different Greggs in the Midlands - all very busy. The staff member I spoke to said things had been “crazy”

People were willing to queue around the corner

Once people realise the queues are longer only because of social distancing and not longer waiting times things will snowball even further

Topping up further

Topping up

[cl0ckw0rk0range] 29/9/2020 08:36

Perhaps worth a revisit in Q1

[bergster56] 29/9/2020 08:16

I said months ago this would hit 600p. Sadly I will be correct

[essentialinvestor] 29/9/2020 07:59

Noticed the same on profitability, not a mention.

They were running like a steam train prior to COVID,
GRG momentum looked unstoppable.

[shanklin] 29/9/2020 07:56

Given they are an excellently run company its unfortunate they have been so unavoidably hit by the pandemic. Pretty telling today that they have made no comment whatsoever re profitability in today's TS, be it either in terms of recent performance or by comparison with broker forecasts.

[debsdowner] 29/9/2020 07:29

Well said CLock Orangee. Wait and see for more clarity in a few months time.

[cl0ckw0rk0range] 29/9/2020 07:20

It's already more than halved which is understandable but sub 5 must surely be on the cards in the coming sessions.

[cl0ckw0rk0range] 29/9/2020 07:17

All those Greggs stores in all those areas that depended on 9-5 staff popping in for their bacon rolls on the way to work and sarnies at lunch will be mothballed. One to keep an eye on but there will be profit warnings to come here.