Food-to-go purveyor Greggs (GRG) posted a positive fourth quarter trading update and confirmed its profit guidance.
Total sales for the quarter were up 7.4%, bringing full-year sales up 6.8% to £2.15 billion, meaning the firm continued to take share in a challenging market despite talk of ‘peak Greggs’.
There were 121 net new store openings, and the plan is to open a further 120 in 2026 bringing to total to just over 2,850 sites.
Full year profit for 2025 is seen roughly flat on 2024, which is in line with the company’s previous guidance.
| Price: £17.31 -2.4% | P/E: 12.2x |
| Market Cap: £1.74bn | Yield: 3.9% |
A tasty update with an acceleration in sales in the fourth quarter despite some pretty extreme weather and subdued consumer confidence.
By extending its opening hours the firm is picking up more morning and evening trade, while it continues to expand its menu of healthier products to attract a wider clientele.
Bearing in mind Greggs is one of the most shorted stocks in the market, the shares have had a nice run of late.
Since the end of November they have put on more than 25%, which suggests some investors expected a positive surprise going into today’s report.
Read the press release here: https://corporate.greggs.co.uk/investors
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