Greggs' first-quarter same-store sales increased by 2.5%, and the full-year performance guidance remains unchanged.

Investing.com - UK bakery chain Greggs PLC (LON:GRG) announced on Tuesday that, for the 19 weeks ending in May, first-quarter same-store sales rose 2.5% year over year, accelerating markedly compared with the 1.6% increase disclosed for the previous nine weeks.

The company said that over the subsequent 10 weeks, same-store sales growth further quickened to 3.3%, and the performance remained impressive even amid pressure from a higher comparable base. Total first-quarter revenue reached £800 million, up 7.5% year over year.

Greggs attributed the improved performance to ongoing menu innovation, with the “Chicken Roll,” a new product launched in April, named as a key highlight.

During the reporting period, the company opened 20 new stores and reiterated its target of adding 120 net new stores for the full year. At the same time, it maintained its performance guidance for full-year pre-tax profit at the same level as the previous year, with an expected same-store cost increase of around 3%.

Greggs said it is closely monitoring the situation in the Middle East and expects food inflation pressures to rise in the second half of the year. However, the company noted that it has made comprehensive hedging arrangements for key raw material procurement in 2026 and 2027, which can effectively mitigate related risks.

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