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Highlights

  • Greggs reports 6.1% YoY increase in Q3 total sales, with year-to-date growth of 6.7%.
  • Company-managed shops see like-for-like sales rise 1.5% in Q3 2025.
  • In 2025, 57 net new shops have opened, with approximately 120 projected by year-end.

Greggs PLC (LSE:GRG) released its third-quarter trading update for the 13 weeks ending 27 September 2025. Total sales for Q3 increased by 6.1% compared to the same period in 2024, while year-to-date total sales rose 6.7%. Company-managed shops reported like-for-like (LFL) sales growth of 1.5% in Q3 and 2.2% year-to-date. Trading in July was affected by unusually high temperatures, but sales improved in August and September under more stable conditions.

Shop Estate and Supply Chain

In 2025, Greggs launched 130 new outlets and closed 73, including 39 relocations, leading to a net addition of 57 shops. The Group currently operates at 2,675 locations, with 2,096 company-managed and 579 franchised units. Q3 openings included supermarket locations in partnership with Tesco and Sainsbury’s, along with relocations of existing high street shops to larger premises. The Group expects approximately 120 new shop openings for the full year, with a strong pipeline into 2026.

Progress continues on supply chain expansion, with automation trials in progress at the new frozen products facility in Derby, scheduled to begin operations in 2026. The new chilled and ambient National Distribution Centre in Kettering is close to completion, with operations planned for 2027.

Outlook

Greggs notes progress amid challenging market conditions while expanding convenience and accessibility through disciplined estate growth. The two new distribution centres will support future expansion. Operational costs remain well managed, and the outlook for 2025 cost inflation has marginally improved. The Board maintains its outlook for the full-year results.

Management emphasized ongoing strategic opportunities and operational development while maintaining the Group’s growth trajectory into 2026.