I suspect by time the end of year results are in they will exceed their profit target. Sales being up by around 10% is in line with inflation.
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Reported sales of 2022 up 23% on 2021.
Looking good for greggs and the share price rise is there to match. Anything more than £25 seems generous but I wouldn’t be surprised if it hits £27.
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Greggs preliminary results for 2022:
I don’t really have time to read them this week.L unfortunately. What’s the summary? Good, as expected, bad?
Any key points that stuck out to you?
Not much been discussed about this Stock as, of late, Anyone got any recent updates for 2023 Thanks
Anyone received the latest dividend payment yet?
Nope. The payment date was only Friday (26/05) though so I’m sure it will come through soon.
Might be worth a punt, new series about the chain on channel 5 just started. Might drum up a bit of interest.
Greggs interim results published in their website:
- Sales up 21.5% on H1
- Added £16.3m insurance claim from Covid
- Increase LFL sales by 16% (comp 2022)
- Div 16p (+6.7%)
- 94 new shops, 44 closures
- Evening trade seems to be going well
The number of shops closing is something I am not very positive about. They say that is part of relocating to better locations, but could be a bad sign.
Share price declined by almost 6% today.
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Just had a price alert on this. I was sifting through the report to see why the sudden price drop, like you say shop closures could be the alarm bell. However they are looking to setup more shops in supermarkets and airports, sound’s sensible to me that. I would prefer a buy price around £22, tempted to take a punt on it.
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I actually feel ok about the shop closures. Imo It’s better for them to be pro-actively closing stores that aren’t performing well. I haven’t looked at the whole thing yet but your summary seems solid.
£22 is also the level I would add at too.
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I’m averaging at £20.5 and so far it’s been a solid investment. Thanks for sharing the latest.
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Greggs cafés in Sainsbury’s stores.
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Q3 Trading Update - 07:00:04 03 Oct 2023 - GRG News article | London Stock Exchange
Main highlights:
- Total sales up 20.8% for the 13 weeks to 30 September 2023
- Company-managed shop like-for-like* sales up 14.2% for the 13 weeks to 30 September 2023
- 82 net new shops opened year-to-date (144 openings less 62 closures)
- Evening trade represented 8.8% of company-managed shop sales for the 13 weeks to 30 September 2023
- Delivery service rolling out with a second delivery partner, Uber Eats, following successful trial
- Some easing in cost inflation as expected
- Full year outcome expected to be in line with our previous expectations
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Another article on Financial Times bullish on Greggs. I don’t really understand the price drop today, so I might add some in the near future.
EDIT: missing link 
Greggs: fears of peak sausage roll donut add up | Financial Times (ft.com)
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Its getting very close to my buy zone at £22 as i posted back in August. Maybe the below is having an effect on share price…
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Q4 trading update fairly positive
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