>Bakery chain Greggs has warned that its prices could go up for a second time this year as it faces surging costs.
>
>Higher prices for food, energy and staff, plus tax changes, mean its own costs will rise by between 6% and 7% it said.
Things are really starting to get out of hand.
This is the end of the Government.
The chain notched up a £145.6m profit before tax, from a loss of £13.7m the year before.
Sales rose 5.3% compared with 2019, the year before the pandemic, reaching £1.2bn.
Yeah they can fuck off lmao. Over rated, salty ass food.
If they get much more expensive, they’ll have to change the name to ‘Gregory’s’ and serve everything with a side of caviar and champagne.
And yet the Poundbakery can do 2 pasties which are in my opinion nicer tasting than Greggs and you get 2 for £1..
Me thinks Greggs management are full of shit..
When the bakery “warns” you of price rises it is time to use another bakery.
First rule of business – don’t threaten the customer. Do they think they are the only pie shop in town?
But how will I get my “mostly chicken” chicken bake?
Sausage roll going from a flat quid to £1.05 was the point of no return tbh
like everyone else then? Good way of getting a free advert?
And yet £Bakery is still 2 for £1….
Yeah not as good but I’d rather get 2 veg curry rolls and be vaguely full than pay over £1 for a vegan roll which I eat in 2 bites :p
I am so tight 🙂
Price elasticity of demand will come for them soon.
They can fuck off
This crisis has shown that we need to tax companies more. Soaring profits and the worst cost of living standards since 2008
The Labour Party must come together on this
Good. Maybe I will stop buying the shit just cus it’s open and close.
Their Gp is only 12%
Net profit 8%
These aren’t huge margins they are operating one.
Cold ass wanky sausage rolls.
The eye roll if you even dare to ask if there is anything hot on the counter.
Fuck Greggs
If you’re inside the M25 I’d recommend a Wenzels
Great, I’ll continue to not buy anything from them!
Don’t worry, when prices go down again im sure we’ll get a nice price cut again. Im sure this isnt just profiteering across the country.
“Costs will rise between 6 and 7%” yet to see a price rise by less than 15% despite inflation being half that…
If the price ain’t right, then Greggs is s*ite.
Rhyming aside I mean that very seriously. Legit reasons or cynically cashing in it doesn’t matter. Greggs is all about value for money. What makes you love them is getting a decent bite for a surprisingly low price. Many people will not pay more – After a certain price it ends up not being novel and attractive. It’s only a sausage roll after all.
I suppose the thing is “warn” makes them sound like a victim rather than being more honest and saying “announce”.
Ratio it out.
Operating / revenues gives their operating profit margin.
Net / revenue gives their np margin.
Edit extra info. Source yahoo finance TTM
Rev 1.056bn
Gp 683m
Op 114.6m
Net 85m
Gp ratio : 64%
Op ratio : 10%
Np ratio : 8%
FYI BP is even lower at NP of 5%
You can play some fantastic ‘bingo’ in these sorts of threads:
1. Some redditors start talking about how much profit an organisation made or bonuses they gave out last year as to some indication as to why price rises aren’t reasonable
2. Some redditors speak about how {product/service} is shite anyway and they never use it
3. Some redditors glibly reply about how they’ll use competitors instead, completely failing to recognise that prices are rising everywhere because that’s how inflation works.
I can’t ait to see these 3 themes play out over the next year when our living standards get truly fucked
I fucking hate Greggs. Shame they’ve killed so many independent places.
Greggs tend to increase prices more than twice a year anyway, it’s just normally not on the same product. One quarter you might see a 5p increase on cakes, next quarter 5p on drinks, next quarter 5/10p on sandwiches
Honestly. If greggs keep increasing their prices they lose their position as an affordable alternative and lose customers. There products are not premium enough to keep justifying these price hikes.
Gotta keep them profits up eh wankers
When they start selling HOT pies/pasties…..I’ll start buying them!
I still haven’t forgiven them for ruining the custard slice.
I got priced out of Gregs ages ago, poor quality sauage rolls that have been getting smaller and are often mostly hollow aren’t worth more than 75p in my book.
Everyone complaining but I’ve found at least in the areas I’ve lived local bakerys have been way more expensive for years. Sometimes I just want a cheap and easy sausage roll not a giant *local area/town* sausage meat for thrice the price.
And I’d be lying if I said I still bring a pound coin to the counter knowing what I’ll get. I’ve been paying with countless for years and the pandemic closed that gap totally so really if there differences is a few pence? I honestly just don’t care compared to certian other prices going up right now which I actually require to live. So honestly I’m surprised anyone even has the energy to be anything more than mildly irritated by this. Which feels about the right level for something so British as complaining about a sausage roll not being a nice even one pound anymore.
Still cant get a greggs sausage roll or coffee in Devon 🤣
Fucking hell. The state of these comments. Says a lot about this country when people are ‘meh’ about foreign policy, but holy fuck, sausage rolls might go up by 10p?!?!
Jesus christ
I should warn greggs of less further purchases then
If they halved the price I wouldn’t eat the stuff. Shop bought pastry and some sausage meat from the butchers = 10x better sausage rolls than Greggs. I make my own and the difference is night and day!
Throwaway Greggs tifl today, got second degree burns because I bit into a very recently baked steak bake. Napalm hands for days.
Right in the thumb/index cloony
I would literally rather get a shitty sandwich from a corner shop than from Greggs. I live less than five minutes walk from a Greggs too.
Used them twice and been disappointed each time. I’m not convinced they fully bake the bread for their baguettes. Dry and chewy and underfilled. Expensive for what it was too.
36 comments
>Bakery chain Greggs has warned that its prices could go up for a second time this year as it faces surging costs.
>
>Higher prices for food, energy and staff, plus tax changes, mean its own costs will rise by between 6% and 7% it said.
Things are really starting to get out of hand.
This is the end of the Government.
The chain notched up a £145.6m profit before tax, from a loss of £13.7m the year before.
Sales rose 5.3% compared with 2019, the year before the pandemic, reaching £1.2bn.
Yeah they can fuck off lmao. Over rated, salty ass food.
If they get much more expensive, they’ll have to change the name to ‘Gregory’s’ and serve everything with a side of caviar and champagne.
And yet the Poundbakery can do 2 pasties which are in my opinion nicer tasting than Greggs and you get 2 for £1..
Me thinks Greggs management are full of shit..
When the bakery “warns” you of price rises it is time to use another bakery.
First rule of business – don’t threaten the customer. Do they think they are the only pie shop in town?
But how will I get my “mostly chicken” chicken bake?
Sausage roll going from a flat quid to £1.05 was the point of no return tbh
like everyone else then? Good way of getting a free advert?
And yet £Bakery is still 2 for £1….
Yeah not as good but I’d rather get 2 veg curry rolls and be vaguely full than pay over £1 for a vegan roll which I eat in 2 bites :p
I am so tight 🙂
Price elasticity of demand will come for them soon.
They can fuck off
This crisis has shown that we need to tax companies more. Soaring profits and the worst cost of living standards since 2008
The Labour Party must come together on this
Good. Maybe I will stop buying the shit just cus it’s open and close.
Their Gp is only 12%
Net profit 8%
These aren’t huge margins they are operating one.
Cold ass wanky sausage rolls.
The eye roll if you even dare to ask if there is anything hot on the counter.
Fuck Greggs
If you’re inside the M25 I’d recommend a Wenzels
Great, I’ll continue to not buy anything from them!
Don’t worry, when prices go down again im sure we’ll get a nice price cut again. Im sure this isnt just profiteering across the country.
“Costs will rise between 6 and 7%” yet to see a price rise by less than 15% despite inflation being half that…
If the price ain’t right, then Greggs is s*ite.
Rhyming aside I mean that very seriously. Legit reasons or cynically cashing in it doesn’t matter. Greggs is all about value for money. What makes you love them is getting a decent bite for a surprisingly low price. Many people will not pay more – After a certain price it ends up not being novel and attractive. It’s only a sausage roll after all.
I suppose the thing is “warn” makes them sound like a victim rather than being more honest and saying “announce”.
Ratio it out.
Operating / revenues gives their operating profit margin.
Net / revenue gives their np margin.
Edit extra info. Source yahoo finance TTM
Rev 1.056bn
Gp 683m
Op 114.6m
Net 85m
Gp ratio : 64%
Op ratio : 10%
Np ratio : 8%
FYI BP is even lower at NP of 5%
You can play some fantastic ‘bingo’ in these sorts of threads:
1. Some redditors start talking about how much profit an organisation made or bonuses they gave out last year as to some indication as to why price rises aren’t reasonable
2. Some redditors speak about how {product/service} is shite anyway and they never use it
3. Some redditors glibly reply about how they’ll use competitors instead, completely failing to recognise that prices are rising everywhere because that’s how inflation works.
I can’t ait to see these 3 themes play out over the next year when our living standards get truly fucked
I fucking hate Greggs. Shame they’ve killed so many independent places.
Greggs tend to increase prices more than twice a year anyway, it’s just normally not on the same product. One quarter you might see a 5p increase on cakes, next quarter 5p on drinks, next quarter 5/10p on sandwiches
Honestly. If greggs keep increasing their prices they lose their position as an affordable alternative and lose customers. There products are not premium enough to keep justifying these price hikes.
Gotta keep them profits up eh wankers
When they start selling HOT pies/pasties…..I’ll start buying them!
I still haven’t forgiven them for ruining the custard slice.
I got priced out of Gregs ages ago, poor quality sauage rolls that have been getting smaller and are often mostly hollow aren’t worth more than 75p in my book.
Everyone complaining but I’ve found at least in the areas I’ve lived local bakerys have been way more expensive for years. Sometimes I just want a cheap and easy sausage roll not a giant *local area/town* sausage meat for thrice the price.
And I’d be lying if I said I still bring a pound coin to the counter knowing what I’ll get. I’ve been paying with countless for years and the pandemic closed that gap totally so really if there differences is a few pence? I honestly just don’t care compared to certian other prices going up right now which I actually require to live. So honestly I’m surprised anyone even has the energy to be anything more than mildly irritated by this. Which feels about the right level for something so British as complaining about a sausage roll not being a nice even one pound anymore.
Still cant get a greggs sausage roll or coffee in Devon 🤣
Fucking hell. The state of these comments. Says a lot about this country when people are ‘meh’ about foreign policy, but holy fuck, sausage rolls might go up by 10p?!?!
Jesus christ
I should warn greggs of less further purchases then
If they halved the price I wouldn’t eat the stuff. Shop bought pastry and some sausage meat from the butchers = 10x better sausage rolls than Greggs. I make my own and the difference is night and day!
Throwaway Greggs tifl today, got second degree burns because I bit into a very recently baked steak bake. Napalm hands for days.
Right in the thumb/index cloony
I would literally rather get a shitty sandwich from a corner shop than from Greggs. I live less than five minutes walk from a Greggs too.
Used them twice and been disappointed each time. I’m not convinced they fully bake the bread for their baguettes. Dry and chewy and underfilled. Expensive for what it was too.
I just ignore Greggs now, not even tempted.