GLP-1 Treatment Impact On ConsumptionRapid uptake of GLP-1 weight-loss treatments is changing consumption patterns of higher-frequency customers, reducing demand for savoury and higher-calorie items central to sales.
Like-for-like Sales SlowdownLike-for-like sales growth has slowed and volumes have turned negative, indicating weaker customer demand that could pressure revenue forecasts.
Strategic Initiatives And Margin PressureProgress on evening trading and delivery expansion has slowed, and store-level plus manufacturing deleverage risks could lead analysts to lower medium-term margin and profit expectations.