Greggs will open fewer new shops in 2025 than previously planned, according to its latest trading update.
The Q3 update for the 13 weeks to 27 September 2025 showed that since the start of 2025 the food-to-go giant has opened 130 new shops and closed 73 (including 39 relocations), resulting in 57 net new openings.
As such, Greggs now expects around 120 net new shop openings for the full year, lower than the previous estimate of 140 to 150 which it said reflects the “timing of opportunities”.
“Our pipeline remains strong into 2026 as we extend access to Greggs in under-penetrated catchments whilst relocating smaller existing shops to better locations,” the business stated.
Openings in the third quarter included further supermarket locations in partnership with Tesco and Sainsburys and the relocation of traditional high street stores that will benefit from additional space and facilities to support further growth, it said. In July it unveiled a new shop format dubbed ‘bitesize Greggs’ aimed at driving greater visit frequency and supporting estate expansion by opening up locations that do not have space for a full-service shop.
As of 27 September 2025, it had a total of 2,675 shops trading which comprised 2,096 company-managed shops and 579 franchised units.
The slowdown in its estate growth comes after the business issued a profit warning in July which said that full-year operating profit would be “modestly below” that of 2024.
This position was maintained in the Q3 update which reported like-for-like sales growth at company-managed shops of 1.5%. Unusually high temperatures in July ‘held back’ the firm’s performance but trading improved in August and September meaning total sales for the period grew 6.1% versus the previous year and year-to-date total sales are up 6.7%.
“Greggs continues to make progress despite challenging market conditions, evolving its offer further and making the brand more convenient for a wider range of customers through disciplined estate expansion,” it stated. “Operational costs have been well managed and the outlook for cost inflation in 2025 is marginally improved.”
The business added that the new distribution centres in Derby and Kettering are on track to open in 2026 and 2027, respectively, to support the next phase of growth.
Product development
In a bid to demonstrate ongoing value to customers, Greggs recently unveiled a lunchtime meal deal which sees shoppers get a main, drink, and side for £5. It is evolving its menu to tap into demand for high protein options by adding Egg Pots and Protein Shakes to its line-up as well.
The Greggs sandwich offering has also been updated with new sourdough toasties and the firm extended the trial of its Pulled Pork Sandwich to 350 stores. A new autumn menu has been rolled out which features a Pumpkin Spice Doughnut and Toffee Fudge Muffin among the seasonal items.
The high street bakery has also extended the availability of its of our frozen ‘Bake at Home’ range through a new relationship with Tesco, initially launching a selection of five products. The Bake at Home range is now available in 930 Iceland and 820 Tesco stores across the UK and online.
No comments yet