Overview
- For the 26 weeks to 27 June Greggs posted total sales of about £1.1bn and pre‑tax profit of £76m, driven largely by new shop openings.
- The group plans to open 100–110 net new stores in 2026 and is testing smaller Bitesize sites and self‑service Greggs Express counters to reach underrepresented locations.
- Greggs has pushed its grocery strategy with a bake‑at‑home frozen range in Tesco and expanded iced drinks and salads, which helped protect summer sales during this year’s heatwaves.
- Management says cost inflation has eased to around 2% and it will not raise prices further this year, but investment in distribution centres in Derby and Kettering is expected to weigh on H2 profits unless demand strengthens.
- Analysts warn of execution and cannibalisation risks from rapid roll‑out and flag wage and energy volatility as key watchpoints that could affect margins and customer value.