Greggs (LSE:GRG) reported stronger trading during the first 19 weeks of 2026, with total sales increasing 7.5% to £800 million and like-for-like sales rising 2.5%. Momentum improved further over the most recent 10 weeks, with comparable sales growth accelerating to 3.3%.
The bakery and food-to-go retailer said menu innovation continued to support customer demand, particularly among younger consumers. Recent product launches included a new Chicken Roll, expanded pizza and hot food offerings, refreshed salad ranges and new drinks products such as Matcha-based beverages.
Greggs opened 41 new stores during the period, resulting in a net increase of 20 locations and taking the total estate to 2,759 outlets. The company remains on track to deliver around 120 net new openings across the full year.
Expansion into travel locations also continued, with Greggs preparing to open its first airport store outside the UK at Tenerife South through a partnership with Lagardère Travel Retail.
The group is also progressing with major infrastructure investments, including a new frozen products facility in Derby and a National Distribution Centre in Kettering, both of which remain on schedule.
Management said cost inflation is still expected to average around 3% on a like-for-like basis during the year, allowing the business to maintain its value-focused positioning while keeping full-year profit guidance unchanged despite geopolitical uncertainty and inflationary pressures.
The company’s outlook remains supported by a resilient operating model, although earnings quality in 2025 was impacted by margin pressure, weaker free cash flow and rising leverage. Valuation metrics remain relatively supportive, with the shares trading on a moderate earnings multiple and offering an attractive dividend yield. Technical indicators are broadly constructive, although momentum signals remain mixed.
More about Greggs plc
Greggs plc is a UK-based bakery and food-on-the-go retailer operating a nationwide network of company-managed and franchised stores. The company specialises in value-focused bakery products, hot food, snacks and beverages, while continuing to expand into travel hubs, convenience locations and retail partnerships through franchise agreements and grocery collaborations.
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