Greggs reiterates that no additional price increases are planned post‑May, prioritizing value to shield customers amid inflation.

Introducing drinks like lemonades, refreshers, and matcha lattes helped attract younger customers, notably Gen Z, during hot weather.

Greggs posted total sales of over £1.1 billion for the 26 weeks to late June, up about 7% year over year, driven mainly by net openings of 34 stores.

The stock move reflected company-specific fundamentals rather than broader market strength, signaling investor focus on Greggs’ growth plan.

There will be no further price rises after May adjustments, with a focus on protecting consumers and maintaining value through the year.

Market share gains, disciplined cost management, and a broader menu supported stronger performance across its expanding nationwide estate.

Analysts note Greggs’ continued expansion despite macro headwinds and stress balancing price increases with cost control to preserve market share.

First-half cost inflation ran about 2.2%, driven by wages and energy costs, with some relief as prices for ingredients such as coffee and cocoa ease.

The company aims for net openings of 100–110 locations in 2026, expanding into areas with little or no Greggs presence and trialing Greggs Express formats in petrol stations, with a target of around 10 openings by year-end.

Management attributes continued outperformance to a disciplined location strategy and ongoing menu innovation, helping resilience in a tougher economy.

Booming momentum across both formats showed in shop performance: company-managed shops up 2.1% and franchised shops up 1.3% year over year.

The emphasis remains on value and affordability to protect consumers during ongoing inflationary pressures.