Greggs’ Q420 sales performance was better than we expected due to (in descending order) a faster recovery in sales despite ongoing and variable COVID-19 restrictions; a strong contribution from the new delivery initiative; and more net new store openings (28) for FY20 versus management’s prior guidance (20). The sales performance, improved profitability and a stronger financial position gives management the confidence to return to prior levels of space expansion. The new national lockdown limits ....
07 Jan 2021
Greggs - New national lockdown tempers outlook
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Greggs - New national lockdown tempers outlook
Greggs plc (GRG:LON) | 2,682 -160.9 (-0.2%) | Mkt Cap: 2,742m
- Published:
07 Jan 2021 -
Author:
Russell Pointon -
Pages:
3
Greggs’ Q420 sales performance was better than we expected due to (in descending order) a faster recovery in sales despite ongoing and variable COVID-19 restrictions; a strong contribution from the new delivery initiative; and more net new store openings (28) for FY20 versus management’s prior guidance (20). The sales performance, improved profitability and a stronger financial position gives management the confidence to return to prior levels of space expansion. The new national lockdown limits ....