Greggs Shares Hit New 52-Week High

Greggs (LON: GRG) shares hit a new 52-week high of 2,090p today, extending a run of records since the bakery chain raised its 2026 profit outlook on 30 September. The question for UK traders is whether the upgrade and the planned savings are already priced in.

In a delayed quote at 9:44am the shares were at 2,083.5p, up 0.3% on yesterday’s close of 2,078p, after trading between 2,026p and 2,090p. Yesterday’s high of 2,082p was itself a record, and the previous peak before the update was 2,046p on the 30th of July.

The stock is up about 11.1% from its 29 September close of 1,875p and about 24.0% this year. The 52-week low is 1,407.2p, set on 25 November 2025.

The high looks like a continuation of the reaction to the third-quarter trading update. In it, Greggs said sales rose 7.7% in the 13 weeks to 26 September and expected a “modestly improved outcome” for 2026.

Like-for-like sales, which measure shops open a year or more, rose 3.4% in managed shops, against 2.1% in the first half. Underlying pre-tax profit was £172m last year. The shares jumped from 1,875p to 2,028p on the day, about 8.2%.

The same day, Greggs proposed closing four factories, at Enfield, North Lakes, Kelso and Seaham, with about 740 job losses. The plan would cost about £60m and save about £20m a year across 2028 and 2029.

This is really about Greggs making themselves fit for the future. As we become a stronger growing business, then there are opportunities to consolidate.

Roisin Currie, Greggs chief executive, to the Daily Telegraph

JPMorgan stays Overweight, and raised its target from £20.50 to £22.10. RBC Capital Markets moved to Sector Perform from Outperform, while also lifting its target from £18.30 to £19.60.

Greggs flagged cost inflation of about 2% this year but “signs of greater inflationary pressures in 2027”. The next scheduled event is the fourth-quarter trading update on the 14th of January, with factory decisions expected towards the end of November.