Greggs Reports 20% Profit Rise and Targets 3,500 Stores

The bakery chain Greggs reported total sales exceeding £1.1 billion for the 26 weeks ending June 27, 2026, marking a 7.2% increase over the previous year. Pre-tax profit rose by approximately 20% to £76 million, while operating profit increased by 23% year-on-year. These results were driven by a net increase of 34 shops, bringing the total to 2,773, and expanded grocery retail partnerships with Tesco and Iceland Foods.

To maintain growth, the company is shifting its menu toward health-conscious items, such as high-protein salads and iced matcha lattes. The chain also opened its first international branch in nearly two decades at Tenerife South Airport. Looking ahead, the company plans to open between 100 and 110 net new locations in 2026 and will trial 10 "Greggs Express" self-service convenience shops.

Despite the strong start, management expects full-year underlying pre-tax profit to remain broadly flat at approximately £172 million, similar to 2025 levels. This is due to an estimated £10 million increase in second-half operating costs in Derby. The company reduced its capital expenditure guidance to £180 million from £200 million as major supply-chain projects conclude. Long-term, the company intends to reach at least 3,500 UK stores by targeting retail parks and airports.