Greggs Sales Rise Even as Inflation Hits UK Baker’s Profit

Greggs Plc sales grew above pre-pandemic levels as cost-conscious consumers grabbed cheap lunches on-the-go, but rising costs held profit flat at the UK’s biggest bakery chain.

The British food retailer, known for its sausage rolls and steak bakes, said Tuesday that comparable sales in the first half were 12% higher than the same period in 2019, even with lower shopper footfall at its outlets. Still, expenses are rising “significantly” and Greggs estimates that cost inflation this year will be around 9%.