**Greggs PLC Q4 Trading Update Summary (January 8, 2026):**
Greggs PLC reported strong performance in Q4 and FY25 despite challenging market conditions, highlighting continued outperformance and market share gains in the food-to-go sector.
**Key Highlights**
* **Sales Growth** Total sales increased 7.4% in Q4 and 6.8% for FY25, reaching £2,151 million. Like-for-like sales in company-managed shops grew 2.9% in Q4 and 2.4% for the full year.
* **Market Share Gains** Greggs continued to gain market share in visits, including breakfast and evening slots, despite subdued consumer confidence.
* **Estate Expansion** 207 new shops opened in 2025, resulting in a net increase of 121 shops. 2,739 shops were trading as of December 27, 2025, with plans for around 120 net new openings in 2026.
* **Supply Chain Investment** Development of new supply chain capacity, including the Derby frozen product facility (phased rollout from mid-2026) and Kettering chilled/ambient distribution center (opening 2027), is on track to support growth.
* **Financial Position** Year-end net cash stood at £47 million, down from £125 million in 2024 due to peak investment in supply chain. Capex is expected to significantly reduce in 2026 and 2027.
* **Outlook** Greggs anticipates full-year FY25 profits in line with expectations. While consumer confidence remains a headwind, they expect similar underlying profits in 2026, driven by store openings, cost management, and continued market share gains.
**CEO Comment**
Roisin Currie, CEO, emphasized Greggs resilience in a challenging market, highlighting their focus on value, convenience, and supply chain efficiency. She expressed confidence in the companys growth prospects, supported by new store openings and supply chain investments.