Greggs Shares Fall as Weight-Loss Drugs Seen Hitting Sales

Greggs Plc shares declined after Jefferies warned weight-loss drugs are hitting sales at the British baker of goods like sausage rolls and donuts.

The stock fell as much as 6.0% as analysts Andrew Wade and Grace Gilberg downgraded their recommendation to hold almost six years after Jefferies first recommending buying. They called GLP-1 treatments a “material threat,” noting they reduce appetite for savory and fatty foods, in particular.