Greggs (LSE:GRG) rose 3.3% to 1572p after a trading update that left the Board's full-year outlook unchanged.
Like-for-like sales in company‑managed shops grew 2.5% in the period and accelerated to 3.3% in the most recent 10 weeks, total sales were up 7.5% to £800m and management said encouraging year-to-date profit progress reflects a weak comparator and good operational cost control, the company said.
The group opened 41 gross new shops (including 17 franchise partner sites), closed 21 (11 relocations) and reported 2,759 shops trading, with 20 net openings to date and a reiterated target of around 120 net openings for the full year.
Supply‑chain investments are on track, with the new frozen manufacturing and logistics facility in Derby due to be operational in 2026 and the National Distribution Centre in Kettering in 2027, and incremental operating costs from the Derby site are expected to mainly impact the second half as previously guided.
Greggs said overall 2026 cost inflation remains circa 3% on a LFL basis, it has around five months' forward cover for food and packaging, circa 85% of 2026 energy and fuel and 50% of 2027 are fixed, and a prolonged Middle East conflict could push inflation higher into 2027 while the company expects good first-half profit progress.
