Greggs has traded strongly for the first 19 weeks, and self-help measures such as refurbishments, openings, manufacturing rationalisation and product development continue to offer potential. Whether switching customers would be a net benefit in a consumer squeeze is uncertain, but the proposition is considerably stronger than when real wages were last negative. We retain our forecasts and valuation.
22 May 2017
Promising performance, strengthened proposition
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Promising performance, strengthened proposition
Greggs plc (GRG:LON) | 2,693 53.9 0.1% | Mkt Cap: 2,754m
- Published:
22 May 2017 -
Author:
Paul Hickman -
Pages:
5
Greggs has traded strongly for the first 19 weeks, and self-help measures such as refurbishments, openings, manufacturing rationalisation and product development continue to offer potential. Whether switching customers would be a net benefit in a consumer squeeze is uncertain, but the proposition is considerably stronger than when real wages were last negative. We retain our forecasts and valuation.