Greggs Share Discussion Threads

[philanderer] 26/11/2024 00:17

'Bakery chain at centre of gentrification row seeks £500m sale'

Gail’s appoints advisers to kickstart auction after major expansion boosts value




OR

[octavio] 13/11/2024 09:37

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.

[philanderer] 09/11/2024 00:35

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.

[barius] 08/11/2024 15:45

The Directors sold at the right time. That was lucky!

[cupra kid] 08/11/2024 14:33

She announced that at the budget so doubt it's that news that's causing the drop.

[philanderer] 08/11/2024 14:06

All down to Reeves increasing employers' NIC's , right across the retail sector today , SBRY, TSCO, MKS

[r2oo] 08/11/2024 12:58

Hope that's not the reason for the share drop today!

[philanderer] 08/11/2024 10:38

Greggs will only serve you a sausage roll if you ditch your headphones

[skinny] 08/11/2024 10:07

FWIW :-

Deutsche Bank Research cuts Greggs to 'sell' (hold) - price target 2,400 (2,600) pence

[philanderer] 08/11/2024 00:13

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.

[geraldus] 04/11/2024 20:59

Try a steak bake,that's brown gunge.

[barius] 31/10/2024 15:16

I had a chicken bake recently. It was full of revolting white gunge.

[niklol] 29/10/2024 15:26

I imagine tomorrow will be worse still

[philanderer] 29/10/2024 14:55

Check that, it's the whole portfolio down the cr@pper ;-)

[philanderer] 29/10/2024 09:38

Something not right here ....started yesterday afternoon.

[philanderer] 29/10/2024 00:02

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

[philanderer] 16/10/2024 13:29

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

[philanderer] 10/10/2024 09:14

Finance Director dumped 65,000 shares @ £28.51 on tuesday

[niklol] 03/10/2024 21:14

Thank you for your reply Philanderer

[philanderer] 03/10/2024 19:53

Usually a 12 month target.

[niklol] 03/10/2024 18:01

Could anyone kindly please exlain these broker targets timescales?
For example when is Liberum expecting Greggs to reach £33?
Many thanks

[philanderer] 02/10/2024 22:56

Liberum downgrades Greggs


Panmure Liberum has downgraded Greggs (GRG) after a strong run in the shares of the high-street baker.

Analyst Wayne Brown moved from ‘buy to ‘hold but increased the target price from £31 to £33 on the Citywire Elite Companies A-rated stock, which fell 5.3% to £29.60 on Tuesday, but has climbed 13% in 2024 to date.

The third-quarter trading update from the baker provided ‘little new information or change in guidance’, with like-for-like sales up 5% which means ‘the company needs to hit 4% like-for-like in the fourth quarter to meet our full-year assumption… and deliver 12% full-year sales growth’, Brown said.

‘This is supported by new openings which remain on track and while the upside is light on strategic initiatives such as dayparts and delivery channels, we have no reason to believe these are also not on track,’ he said.

The shares have outperformed the FTSE 350 year-to-date, growing 16% and ‘deservedly so’.

‘We upgrade our profit before tax by 6% but move to a “hold” purely on valuation grounds and nudge our target price up, reflecting the better margin outturn,’ said Brown.


citywire.com

[niklol] 02/10/2024 15:16

I wonder how low this will go?

[philanderer] 01/10/2024 18:02

Yes, the market did not like that update.

Chartwise, should be support around 2750p