Investors will ravenously digest comments on the current trading environment when UK food-to-go specialist Greggs (GRG) delivers its full-year results on 5 March.

While the value-for-money sausage roll, coffee and Yum Yums retailer has enjoyed positive momentum supported by its value-for-money proposition, extended trading hours and deliveries, an upgrade to guidance feels like a stretch with the firm lapping demanding prior-year comparatives; like-for-like sales growth from company-managed shops was an impressive 18.8% in the first nine weeks of 2023.

On 10 January 2024, Greggs reported a stronger-than-expected end to 2023 with like-for-likes up 9.4% in the fourth quarter, all the more impressive given a strong 2022 comparative and enabling the bakery retailer to meet profit expectations for the year.

Sales growth did slow in the final quarter of last year, but this was largely down to the company putting the brakes on price increases thanks to easing inflationary pressures which are a positive in terms of attracting cash-strapped customers to its outlets.

The FTSE 250 company, which operates and franchises nearly 2,500 stores across the UK, should update the market on progress with new shop openings and ongoing supply chain investments as well as deliveries on the Just Eat and Uber Eats platforms. 

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