Greggs (LON: GRG) shares jumped 3.5% on Tuesday morning after the bakery chain reported accelerating sales growth and reaffirmed its full-year profit outlook, reassuring investors that its value-led proposition continues to resonate with cost-conscious consumers.
The Newcastle-based company posted total sales of £800 million for the first 19 weeks of 2026, a 7.5% increase on the £744 million recorded in the same period last year.
Like-for-like (LFL) sales in company-managed shops grew 2.5% over the period, picking up to 3.3% in the most recent ten weeks — a trend the company attributed to strong menu innovation and good operational cost control.
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Greggs opened 41 new shops during the period, bringing its total estate to 2,759 outlets, and reiterated its target of approximately 120 net new openings for the full year.
The company also announced plans to open its first shop outside the UK at Tenerife South Airport, in partnership with travel retail operator Lagardère Travel Retail, marking a significant step in its international ambitions.
New product launches have been a key driver of footfall, with the April debut of the Chicken Roll quickly becoming a customer favourite. Additions including the Tandoori Chicken Pizza Slice, new salads and a popular Matcha drinks range have helped broaden Greggs’ appeal to younger shoppers.
Cost inflation expectations remain unchanged at around 3% on a LFL basis, with the company well-hedged on commodities and energy. The Board said its expectations for the full-year outcome remain unchanged.
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