Investors in Greggs PLC (LSE:GRG) were evidently happy to shrug off the tabloid outrage ahead of the upcoming Easter holiday.
In London, Greggs shares were up almost 1% despite its confirmation that it would not be offering hot cross buns for a second Easter in a row, a news story that has supposedly upset the FTSE 250 listed bakery’s customers.
“While Hot Cross Buns won't be returning to our menu this Easter, keep an eye out for other Easter favourites that will be arriving in our shops soon,” a company spokesperson said in comments reported in the Metro.
It failed to clarify why it would not be offering the Easter treats, previously sold in packs of four for £1 across the baker's 2,000 plus UK stores.
The holiday hullabaloo comes on the eve of Greggs preliminary results, due on Tuesday.
It has previously flagged an 18% rise in underlying sales in the three months to December, despite the impact of harsh weather and strike action.
Whether the decision is a result of inflationary pressures remains to be seen, with UBS analysts hinting investors would be keenly focussed on the baker’s margins in the upcoming results, given its previous suggestions it could not raise its “value” prices too far.
In response to the news, customers took to Twitter to slate the decision, with many suggesting they would forgo the bakery altogether as a result.
Murmurings of a Greggs boycott did not impact its share price on Monday afternoon though, with the stock rising 0.46% to 2,728p.