FTSE 350 Look Ahead: Greggs, Next, And More

Published on

Look ahead to FTSE 350, other companies reporting & economic events from 2-6 January 2023

  • Will Greggs plc (LON:GRG) win the battle against rising costs?
  • Next plc (LON:NXT) will shine a light on how UK retail has fared over Christmas

Greggs, Q4 Trading Statement, Thursday 5 January

Matt Britzman, Equity Analyst, Hargreaves Lansdown:

“Next week, Greggs will share details of its fourth quarter and full-year trading performance. The consensus amongst analysts is for revenue to come in around £1.45bn for the full year, an 18% increase.

Get The Full Ray Dalio Series in PDF

Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues

Q4 2022 hedge fund letters, conferences and more


We’re unlikely to get any profit details, but we expect most of that revenue growth to be eaten up by higher costs. Costs have been under pressure all year by the impact of inflation, running at around 9% on a like-for-like basis. We’ll be watching for any commentary on how this dynamic is expected to play out in 2023.

Greggs is pushing on with plans to bolster its estate, we’re expecting to hear news of more openings in the fourth quarter. For the full year, the group’s been targeting 150 net openings, of which around 40% are expected to be with franchise partners.

That’s all part of Greggs’ plan to increase the number of franchise stores, something we’re supportive of as it means day to day running costs can be passed on to franchisees.”

Next, Q4 Trading Statement, Thursday 5 January

Sophie Lund-Yates, Equity Analyst, Hargreaves Lansdown:

“Next is the first retailer out the gates with a post-Christmas trading update. That means it will be watched closely for an inkling of how the festive season has been for the wider sector. Last we heard, Next expects sales to be down 2% for the full financial year amid a backdrop of changing consumer spending habits.

The past few weeks will be a crucial pillar of that, and we’re keen to see that trading hasn’t been worse than expected. Recent UK figures show that retail parks have been faring better than high streets, which could hold Next in good stead.

We’re also interested to see how the integration of recently acquired Joules is going. The deal includes a high number of Joules stores and we wonder how many of these could have been earmarked for closure.

The other major question mark will be margins. As costs increase, margins are coming under pressure. This isn’t an isolated story for UK businesses in the current environment, but we’d like some reassurance that things aren’t deteriorating any further.”

Among those currently scheduled to release results next week:


No FTSE350 Reporters


No FTSE350 Reporters


No FTSE350 Reporters


B&M European Value Retail Q1 Trading Statement
Greggs Q4 Trading Statement
Next Q4 Trading Statement


No FTSE350 Reporters