Greggs share price: what to expect from its Q3 results
The British bakery chain will unveil its third quarter results on Tuesday, with investors hoping its stock will continue its ascent after gaining more than 60% since January.
When is Greggs’ results date?
Greggs will unveil its Q3 results on October 1.
Greggs’ results preview: what does the City expect?
Greggs has remained popular among consumers for its new vegan sausage roll, as well as impressing investors with its strong sales growth, with the bakery chain’s stock climbing more than 60% since January.
‘We have continued to make strategic progress with our programmes of investment in infrastructure to support future growth and in developing the products and channels to market that will help achieve our ambition to be the customers’ favourite for food-on-the-go,’ Greggs CEO Roger Whiteside said in its half-year results in July.
‘Given the strength of our year to date and the outlook, we have decided to increase investment in strategic initiatives in the second half of the year to help to deliver an even stronger customer proposition and further growth in the years ahead,’ he added.
The company’s strong performance over the first six months of trading has led analysts and investors to become quite optimistic about its outlook in the second half of the year, with UBS particularly confident about its future.
‘We have since seen LFL growth remain strong, still running at circa 9% for the last seven weeks of Q2 despite the initial publicity around the vegan sausage roll subsiding, and with comps strengthening after the weather impact in Q1-18,’ UBS said in a note to investors.
‘Greggs is well positioned to drive like-for-like growth given slowing competitor openings, increased investment in strategic initiatives announced with H1 results, and leading value perception,’ the bank added.
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Brexit presents uncertainty for Greggs in Q4
Greggs looks on track to deliver a strong set of Q3 results on Tuesday, but with the Brexit deadline of October 31 quickly approaching, the company has admitted that Britain’s departure from the EU presents significant uncertainties in the months ahead.
A disorderly Brexit will likely impact supply chains, increase tariffs, weaken the pound and negatively affect consumer demand, posing a threat to performance in its fourth and final quarter.
In response, the bakery chain has stockpiled key ingredients and equipment that could be affected by disruption to the flow of goods into the UK.
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