Highlights
- Greggs shares reached a new one-year high at the start of the week, capping a rally that has seen the stock rise strongly since the summer.
- The bakery chain's latest trading update showed total sales and like-for-like sales accelerating, with management raising its full-year earnings expectations.
- A supply-chain consolidation plan is expected to deliver meaningful annual savings by the end of the decade, though it involves site closures and job losses.
Greggs shares extend their autumn surge to a one-year high
Greggs
has become one of the standout recovery stories on the London market this autumn, with the shares setting a new one-year high at the start of the week after a rally that has lifted the stock substantially since July. The move caps a remarkable turnaround in sentiment toward the sausage roll maker, which spent the first half of the year under pressure from weak footfall, hot weather and worries about rising labour costs. The story forms part of our wider Consumer Stocks coverage.
The [FTSE 250] constituent now trades above its longer-term moving averages, and the pace of the climb has prompted some commentators to question how much of the improved outlo...