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Looks like the trading update was already baked in!
Past history ( although never a given indicator of future events) shows that with good results, of which I would be very surprised if they are not, the markets early response is as expected and a rise occurs but I think many expect the small spike and sell on it.
I know several production managers there and they told me throughout the Ukraine events strenuous efforts have to made to find alternative sources of raw ingredients needed to maintain production with as small a retail price increase as possible. Fortunately for Greggs, all retails prices have increased among it’s competition which has helped to maintain their market share. Good luck
I feel same @thecumbrian. I bought in at around 2900p with strong belief that this was undervalued and would rise to mid-30's and then it sunk due to energy and raw materials costs. However, this will get sorted out at some point, demand for the products is fairly constant or growing. On this basis I'm expecting this to rise during 2023 so I hold until I reach my target. I'm excited to see what the trading update tomorrow does to the price. My opinion only. Good Luck. TT
I certainly hope so.
Can’t believe was well over £30 last year, even with supply issues there has got to be upward movement from here. Shops always fullish or at least steady foot fall in my area, so here’s hoping.
Trading update on Thursday 5 Jan. 2023 could be the year for Greggs to shine. Happy New Year and Good Luck. TT
That’s a quid a share to start with, if it materialises.
I know sales don’t always equate into profit but it’s a good indicator and the 3 of the 4 shops in my city are all either full or very busy in the 10-3 time slot, so I’m optimistic footfall here is almost if not bigger than before the covid. Fingers crossed
Looking for a ice re rate in the coming months as brokers realise Greggs is still on a (sausage) roll...(apple) turnover still growing at a pace, and I'm in doughnut that we will see new highs in the next 12 months or so...Aimho Adyor!
While it is only an initial judgement, it has the benefit of being morally and legally correct(IMV)and I believe is likely to be upheld through the appeal stages. They will, as usual, take some time but if/when the legal process is complete will result in a sum of probably well over £100 mill flowing through to the bottom line. To put that in context that is roughly equivalent to a FY pre-tax profit. The SP may not fully reflect the decision in the short term but will eventually. For me, the resultant uplift may almost cover my wife's cheese pastie habit!
Very good news, £150 million into the coffers...Will wait until the cheque is in the bank before opening the champagne..
https://www.retailgazette.co.uk/blog/2022/10/greggs-wins-150m-high-court-covid/
I've recommended all the posts on this thread as I totally agree. Nice rise today. Greggs shops are usually teeming with customers. I have started to see more shops with cafes as Greggs try to break the constant trade for hot drinks and the sit-in experience. Long term I predict that this will return to pre-Ukraine levels but obviously facing 'wheat and heat' headwinds at present. Good Luck and please back up my opinions with your own research. TT
Mentioned as a possible bid target (due to the low £) in the Sunday Times.
Beware shorts trying to drag this down..there's previous history of that but Greggs results always defy them...18month time I could see this back to previous highs imho. Adyor!
Lots of traders and shorts try to undermine this company but it doesn't work. Greggs is the complete package when it comes to on the go food, you will always see Greggs stores are busy wherever they are.. much cheaper than any of the big US based options..aimho Adyor
high street bakery chain Greggs said that total sales were up 14.6% over the 13 weeks ended 1 October, putting it on track to meet full-year expectations.
What is not to like, been topping up down here recently. Solid company, with a good future. No idea why it receives such little attention from LSE commentators, but maybe that’s for the best!
No it's not Putin it's Truss and her newly promoted prat's that have made people loose their appetite.
Well judging by the SP decline in the last few weeks One assumes that NATO are concerned the Vladimir Putin the 'CHILD Killer', is going to attack our sausage roll and doughnut supply infrastructure along with blowing up his own gas pipelines...Greggs will no doubt keep calm and carry on baking whilst everyone else panics. Great prices and value always guaranteed at Greggs helping to feed Britain whilst we are at war with Russia.
Greggs have the edge on all their competitors imho as they bake all of the own products, have huge buying power and their marketing is aimed at the lower end of the market, a perfect recipe for success in any economic climate, especially during a recession. Why go to Costa Lot or Starstrucks and pay a fiver for a cup of frothy coffee..of course prices will rise as energy and raw materials input costs rose, but the competition will feel a lot more pain than Greggs imho. Adyor!
Even Blair's and Bush's evil war didn't stop people going to Greggs.
Must get myself a new greggs swimsuit......will they make it in xxl?
Wouldn't take any notice of him either. As far as I can see people love going to Greggs no matter what's going on..even Putin's evil war doesn't stop people wanting good value food and drinks...aimho Adyor!
Greggs (LON:GRG) (£2.18bn at 2131p) [No section below] - not a small cap but… I had a quick look at interim results from this on the go food retailer yesterday. It’s a good business, and shares have lost a third of their (over-priced) peak 2021 value, and now look more sensibly priced (not cheap though). I’m mentioning it for read-across to other retail/hospitality shares. Sales shot up 27%, but profits were only flat against last year. This is due to “the re-introduction of business rates, increase in VAT and higher levels of cost inflation”. FY 12/2022 outlook is in line with expectations - which is EPS flat vs 2021. If one of the best operators can only achieve flat profitability against all these cost headwinds, and withdrawal of large Govt support, then what chance do lesser hospitality/retail businesses have? Hence I think it’s best to assume that profits remain under pressure for this sector for 2022 and 2023. Providing forecasts are set realistically modestly, that’s fine. But racy forecasts expecting big profit growth could be an accident waiting to happen. It’s like a minefield at the moment, we have to pick our way through very carefully.
https://app.stockopedia.com/content/small-cap-value-report-wed-3-aug-2022-vare-951890?order=createdAt&sort=desc&mode=threaded
(SUBSCRIPTION ONLY)
Strong results as people looking for Greggs great value offerings..business as usual despite all the problems going on in the world...people need to eat and drink..
https://news.sky.com/story/cost-of-living-live-updates-why-you-should-not-drink-coffee-before-going-shopping-12615118