[REVISION HISTORY]

Greggs UK sales performance and expansion

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2026-08-16 23:57 UTC → 2026-08-27 15:49 UTC · added ~~removed~~

Greggs reported strong financial results for the first half of 2026, ending June 27, with total sales reaching £1.1 billion (up 7.2% year-on-year) and pre-tax profits rising approximately 20% to £76 million. Operating profit saw a more significant climb of 22.9%, reaching £86.5 million. Growth was supported by a 2.1% increase in like-for-like sales for company-managed shops, driven by menu innovations such as iced matcha lattes, a new chicken roll, and high-protein salads, alongside expanded grocery partnerships. The company also noted a promising start for its first international outlet at Tenerife South Airport. CEO Roisin Currie indicated that the business is entering a phase of “strong free cash generation” as major capital expenditure projects, including the Derby manufacturing and logistics facility, near completion. Despite this growth, the company has faced market volatility. Earlier in July, shares experienced a slump, falling about 43% from their peak due to concerns over a retail downturn and slowing comparable sales growth. However, following a recent surge in share price, the dividend yield has reset to approximately 3.5%, based on a full-year forecast of 69p per share, while the interim dividend was maintained at 19p per share. Analyst outlooks remain divided. While major firms like JP Morgan, Barclays, and UBS maintain positive ~~views, others~~ views—with JP Morgan describing the company as a “structural winner”—others like Jefferies have lowered ratings. A key point of discussion is the potential impact of GLP-1 weight-loss drugs on consumer behavior; CEO Roisin Currie acknowledged there is “no doubt” that appetite-suppressing medications are influencing the business by driving customers toward healthier options and smaller portions. To support future growth, Greggs ~~remains on track~~ is pursuing technological and physical expansion. The company has announced plans to ~~open 100–110 shops in 2026, targeting roughly 3,500 outlets.~~ recruit a Head of Data & AI to implement agentic AI capabilities.

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