GREGGS PLC

Greggs is consulting on proposals to close four UK factories — affecting sites in Enfield, Penrith, Kelso and Seaham — a move that could cost 740 jobs and incur about £60m in disruption and redundancy costs. The company expects the changes to deliver roughly £20m of annual savings by 2028 and says the reorganisation is needed to support cost-efficient growth. Greggs reported quarterly sales up 7.7% and plans further shop openings, but warned of rising inflationary pressures in 2027; shares jumped 7.3% on the announcement. The firm will enter consultation with unions and aims to minimise the impact on employees where possible. » More on theguardian.com

Greggs reported total sales of £1.1bn for the first half, up 7.2% year‑on‑year, with like‑for‑like sales up 2.1%. The bakery opened 34 net new shops, taking the estate to 2,773 outlets by end‑June. Pre‑tax profit increased almost 20% to £76m, helped by cost control, product launches including a popular chicken roll and iced matcha drinks, and expansion of its frozen “bake at home” range into Tesco and Iceland. Management said new stores and menu innovation continue to underpin growth despite a challenging consumer backdrop. » More on theguardian.com

Greggs has appointed Ben Waldron as its designated finance director; he will take up the post on 27 October 2026 and assume full CFO responsibilities on 1 January 2027. Richard Hutton, who has been with the company for 28 years and served on the board for 20 years, will remain in his role until 31 December 2026 and then retire. Waldron joins from Bakkavor, where he spent more than 14 years in senior roles, and brings extensive financial and operational experience that the board and CEO view as valuable for executing the company’s strategy. » More on de.investing.com

Greggs reported like-for-like sales growth of 2.5% for the first 19 weeks to May, accelerating to 3.3% in the last ten weeks. Total sales in the quarter rose 7.5% to £800m. The company highlighted the successful launch of the new "Chicken Roll" and 20 new openings, and reiterated its target of a net 120 new shops for the year. Greggs confirmed its pre-tax profit forecast at the prior-year level, expects like-for-like cost increases of around 3%, but sees risks from potential rising food inflation in the second half and is hedged for key commodities until 2026/2027. » More on de.investing.com

Greggs has removed self-service display cabinets at a small number of outlets with high levels of shoplifting, replacing them with theft-proof counters where staff hand over products. Trials are under way in several London locations, Birmingham and Wilford, Nottinghamshire. The baker is also introducing software to send incident information directly to police as part of wider measures to tackle rising retail crime. » More on theguardian.com