Greggs Shares Surge to 52-Week High on Strong First-Half Profit and Sales Growth

Shares in Greggs (GRG.L) surged on Tuesday after the UK food-on-the-go retailer reported a materially stronger set of first-half results, with significant growth in both profit and sales. The company's stock jumped by as much as 8.9% to trade at 1,840 pence, reaching a new 52-week high of 1,890p intraday.

Strong H1 Performance

For the 26 weeks ended June 27, 2026, Greggs announced that pre-tax profit rose to £76 million, a notable increase from the £63.5 million reported in the same period a year earlier. Total sales for the half climbed to £1.1 billion, up from £1 billion in H1 2025.

The company attributed the robust performance to several key factors:

• Continued gains in market share.
• Disciplined cost management.
• An expanding menu, including new items like Iced Matcha Lattes and a Chicken Roll, which resonated with customers.

Accelerating Momentum

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Greggs also highlighted accelerating sales momentum in its trading update. Like-for-like sales in company-managed shops improved from 2.5% year-to-date to 3.3% in the most recent trading period.

Management's growth strategy remains on track, with plans for approximately 120 net new store openings for the full year. The company noted that its expanding franchise and digital channels also contributed to the positive results, reinforcing investor confidence in its growth narrative.

Market Context

The sharp upward move in Greggs' shares was a company-specific reaction, standing in contrast to muted activity in broader global markets. The positive earnings report and accelerating sales prompted a significant re-rating from investors, who had previously undervalued the company's operational turnaround, according to the source material. The stock had been trading well below analyst price targets prior to the announcement.