Best of the Brokers for 03 July 2014 July 2, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com OCADO GROUP Deutsche Bank has upped Ocado to “hold” after six months on a “sell” rating, reducing the target price to 330p from 350p. The broker thinks while there has been a slowdown in sales growth, expectations are more realistic, and there is [...]
London Report: Home lending up but rise in UK prices is slowing July 27, 2014 MORTGAGE approvals figures appear likely to show the housing market is moving again, after tough new MMR loan tests slowed lending figures. However, house price data due on Thursday suggests prices may not be soaring as much as earlier this year. They are expected to have risen 0.5 per cent month-on-month in July – the [...]
Target boss out on cyber attack May 5, 2014 THE CHIEF executive of US retailer Target quit yesterday after months of grappling to deal with a cyber attack that took place last year. Gregg Steinhafel was also chairman and president. The board thanked him for his 35 years of service at the firm. Finance boss John Mulligan is now interim CEO. Up to 70m [...]
Greggs warms up as summer finally cools off October 9, 2013 GREGGS said efforts to stem its sales decline started to pay off in the third quarter of the year, sending shares up almost three per cent yesterday. The bakery chain posted a 0.5 per cent fall in like-for-like sales in the 13 weeks to 28 September, an improvement on the 2.9 per cent decline reported [...]
Analyst Views: Is Greggs’ improved performance a sign that It is on the right track? October 9, 2013 DARREN SHIRLEY SHORE CAPITAL “Greggs has reported trading for the 13 weeks to 28 September which includes a more robust sales trend through the latter two months of the period after a more than challenging July. Whilst comparatives were weak against the third quarter of 2012, we take encouragement from the more positive trend. WAYNE [...]
Greggs announces lukewarm results as like-for-like growth decline softens October 9, 2013 High street baker Greggs has reported a 0.5 per cent drop in like-for-like sales in the 13 weeks to 28 September, as they witness a 2.1 per cent drop in like-for-likes in the year to date (release). So things might be looking up slightly, or at least chief executive Roger Whiteside thinks so. He says [...]
City & Gild: Cutting back on brands won’t help firms grow May 30, 2014 It was a sad day for many when the news reported that the West Cornwall Pasty Company was about to go under last month; anyone who has said yes to “one for the road” has undoubtedly stood trackside gobbling down the unctuous beer sponge that is a pasty. Stodgy, trusted and just what you need [...]
Greggs profits go cold as sales fall August 6, 2013 Baker Greggs has announced a before tax profit fall from £11.4m to £4.6m in the 26 weeks ended 29 June (release). The firm has seen like-for-like own shop sales down by 2.9 per cent, while total group sales were up by 3.4 per cent in the same period to £362m. Trading in the first five [...]
London Report: British economy in fifth straight growth quarter April 27, 2014 BRITAIN’S economy is expected to show its continued return to form this week, with official data likely to show a fifth consecutive quarter of expansion. Figures due from the Office for National Statistics tomorrow are expected to reveal the economy grew by 0.8 per cent in the first quarter, despite worries that February flooding would [...]
Greggs cooks up new recipe to revive sales August 6, 2013 GREGGS’ new chief executive unveiled plans yesterday to pull the chain away from its roots in the dwindling bread business and focus on food-on-the-go after posting a slump in profits. Roger Whiteside said 70 per cent of customers visited Greggs for “food-on-the-go”, but it was losing share in the £6bn market due to growing competition [...]