THE WEEK: Morningstar columnist Rodney Hobson muses on missed opportunities, investment philosoph. UK stocks have been heavily sold off thanks to Brexit uncertainty, particularly those exposed to. UK Domestic Stocks to Weather Brexit Britain.The Week: Vegan sausage rolls have helped Greggs shares soar, but a recent correction in the shar. Greggs Shares Sweet, But PPI Weighs on Lloyds.Retired investor Richard Venes likes funds which address ESG issues and have strong track records. “Green Funds and Greggs are Boosting my Retirement”.Greggs' vegan sausage roll is an example of a company tapping into meat-free mania - sustainable. Shares in Greggs were down 2.2% at 2,782.68 pence on Tuesday morning in London.īy Heather Rydings, Alliance News senior economics reporterĬomments and questions to 2023 Alliance News Ltd. Consumer disposable incomes are likely to stay under pressure, but we remain confident that our outstanding value proposition continues to be compelling."ĭespite the uncertainties, Greggs said its expectations for the full-year remain unchanged. "Although we expect to see ongoing material cost inflation, we have good forward cover on key commodities. Looking ahead, whilst we expect the macro backdrop to continue to be challenging, we are confident in making further progress," Greggs said. "We have made a good start to the year with sales in line with plans and continued progress on our strategic initiatives. The company said it expects additional shop capacity will become available in the second half of 2024. It has also closed 26 in the year-to-date, leaving a total 2,365 shops as of May 14. Greggs opened 63 new shops in the 19 weeks to May 13, including sites at Glasgow and Cardiff airports. Pizza also was proving popular, Greggs added, with the company's late trade pizza deal helping to drive sales. The firm noted particularly strong growth in sales of hot goods and snacks, such as chicken goujons and wedges. Total sales in the 19 weeks to May 13 stood at GBP609 million, up 23% from GBP495 million the year prior. Greggs said it expects this figure to continue to normalise as it annualises against the actions taken to mitigate inflation in 2022. In the first ten weeks to May 13, like-for-like sales growth has averaged 16% against the prior year. Greggs noted that this growth, in part, reflected the impact of the Omicron virus strain in the first nine weeks of 2022. The Newcastle-based bakery chain said like-for-like sales in company-managed shops grew 17% in the first 19 weeks of 2023 against the year prior. (Alliance News) - Greggs PLC on Tuesday reported double-digit sales growth in the first 19 weeks of the year and, despite acknowledging an uncertain consumer backdrop, kept its outlook for the full-year unchanged.
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