Greggs sees 20% profit jump to £76m on iced drinks and salad push, launches first foreign store in 18 years

Financial performance

Greggs reported total sales of £1.1 billion for the 26 weeks to 27 June 2026, 7.2% higher than the same period a year ago. Pretax profit rose 20% to £76 million, up from £63.5 million in the first half of 2025. Like-for-like sales in company-managed shops grew 2.1%, while franchised stores posted a 1.3% increase. The chain opened a net 34 new shops during the period, taking the total estate to 2,773 outlets. It still targets 100 to 110 net new openings in 2026 and sees long-term scope for up to 3,500 sites.

Summer menu shift

A pivot to cold and healthier items helped the Newcastle-based group navigate Britain’s heatwaves. Iced matcha lattes, blueberry matcha iced lattes, and an expanded salad range with more protein and clearer nutritional labelling drew in younger and health-conscious consumers while keeping footfall steady when temperatures crossed 30°C.

You do see that when temperatures get above 30 degrees that people start to eat less. We’ve been much more resilient this year than previously because we learned some lessons.

New products such as the chicken roll, launched in April as an alternative to its sausage and vegan rolls, also attracted customers. The company relaunched its salad range in May, adding items like a prawn layered pasta salad and a chicken caesar alongside a grains and green salad.

The timing of those was great and they have sold well.

At the same time, indulgence remained part of the mix, with customers buying packs of sausage rolls for picnics and sweet treats for occasional splurges.

Grocery and retail expansion

The group’s “bake at home” frozen range reached Tesco shelves during the half, complementing an existing partnership with Iceland Foods, which together drove strong sales growth in the grocery retail channel. Greggs also continued opening shops away from high streets, with more than half of new locations in areas without a store within a mile. Formats under trial include a “bitesize” concept and a self-service “Greggs Express” model.

International test at Tenerife airport

In late May, Greggs opened an airside outlet at Tenerife South Airport in Spain’s Canary Islands, partnering with Lagardère Travel Retail. The branch carries the core UK menu alongside local items such as Spanish omelette breakfast rolls and blueberry muffins. Chief Executive Roisin Currie described the trial as a way to gauge whether the brand could work in international travel hubs, noting that more overseas airport openings could follow if the test proves positive.

It is only one shop, so far though it’s hit every sales hurdle.

The launch marks Greggs’s first overseas outlet since it abandoned a loss-making ten-shop business in Belgium in 2008.

Market reaction and outlook

The shares surged 16% on Wednesday, punishing short sellers. Analysts have raised questions about “peak Greggs” and the potential impact of GLP-1 weight-loss drugs on demand for high-calorie products, but the company said it has no price rises planned after breakfast and lunch deals went up in May. Full-year expectations are unchanged, with underlying pretax profit forecast to remain close to £172 million. Higher capacity investment costs are expected to push second-half profit lower year-on-year.