Greggs is the UK's go-to bakery chain, selling fresh sausage rolls, sandwiches, and drinks from over 2,500 high-street shops, like a national corner bakery with a supply chain from oven to till.
Money comes mainly from company-managed shops, which sell high-volume, low-priced food with a gross margin around 61.7% and a thin net margin near 5.9%, making profit on scale, not markup.
Greggs' brand and prime locations are hard for competitors like Pret A Manger and Subway to displace, but rising costs and competition from supermarket meal deals are eroding its edge.
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A user calls Greggs plc a 'proper company,' suggesting a positive fundamental view of the business.
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