Company
LON:GRG
UK's leading retailer specialising in sandwiches, savouries and other bakery-related products, with a particular focus on takeaway food and catering.
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Investments and investor services
Important economic data is also due, with services PMIs data for the UK, US and other major economies that will give an indication of how the global economy fared into the end of the third quarter
"There are no current supply issues with our chicken bakes and our customers can continue to enjoy these as they usually would,” a spokesperson for Greggs said
The baker has also resumed dividend payments after a pandemic-induced break
Sales held up even amid increased competition when cafes and restaurants were allowed to reopen
Analysts at Berenberg also said they expected the bakery chain to “soon move back into positive territory” regarding sales growth as pandemic lockdown restrictions eased
Sales have recovered well recently as the baker is facing less competition than usual from cafes and restaurants
The new financial year started better than expected but sales were down 29%
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There are also results expected from the likes of Ferguson, Close Bros, Costain, Polypipe, ScS and Wood Group
Britain's premier share index finished down nearly 12 points at 6,749, with commodity stocks weighing
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Other big names in the diary include copper miner Antofagasta, publican Wetherspoons and the Gym Group
The bakery chain expects its loss before tax for the year ended January 2. 2021, to be up to £15mln, after a £108mln profit recorded a year earlier
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The bakery chain may be facing a bleak start to 2021 as the new UK lockdown measures will once again shut out customers
Greggs wants to minimise job cuts by reducing hours worked in shops
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Also on Tuesday there are results expected from Ferguson, the AA and Card Factory
Working from home, meanwhile, poses another challenge for the food systems in the metropolitan centres and travel hubs
Analysts do not expect a notable hit on full-year performance but the pandemic is nonetheless "problematic" for the baker
Amazingly really, whenever the market tries to fall, it gets bought up. The question, given all the problems in the world is why? Well, who knows, the market is always mad. I guess for now it looks forward to 2021 and 2022 and assumes virus
The high street baker expects to reach breakeven in profit terms when sales recover to 80% of pre-pandemic figures
The group said its whole estate is expected to be trading by early July
It was suggested that the food-on-the-go company may consider raising capital in order to decrease debt
