Greggs sales on a roll as it holds firm on guidance in quarter of ‘good progress’

Greggs reported a 10.6% increase in total sales for the 13 weeks to September 28, 2024.

The sausage roll specialist also said company-managed shop like-for-like sales were up 5% year on year as well as 6.5% for the year to date.

Greggs attributed its sales growth to its ongoing menu development which includes new pizza and doughnut options, pizza sharing boxes and new over-ice drinks.

The food-on-the-go retailer also hailed the progress of its extended trading hours across its stores and the success of its digital channels, including the Greggs app.

In the year to date, Greggs has opened 86 new shops and remains “on track” to open between 140 and 160 stores this year, including around 50 relocations.

In terms of outlook, Greggs said despite the continued “economic uncertainty” it expects the full-year outcome to be in line with previously pledged guidance.

The company said in a statement: “Greggs continues to extend its reach, bringing new shops closer to customers and establishing the supply chain capacity to support further growth.

“With increased forward buying cover we now expect the overall level of cost inflation for 2024 to be towards the lower end of the 4% to 5% range previously communicated.  At a time when consumers continue to face uncertainty, Greggs offers exceptional value for money.

“The board remains confident in the long-term growth opportunity for Greggs and we are investing to support that growth.”