**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 ยฃ2,151 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 ยฃ47 million, down from ยฃ125 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.
Below is the HTML table code comparing the financials and debt (net cash position) year-on-year for Greggs PLC based on the provided text:
### Notes:
1. **Total Sales** and **Net Cash Position** are directly comparable year-on-year.
2. **Company-Managed Shop Like-for-Like Sales Growth** is only provided for 2025, so no comparison is available.
3. **New Shops Opened**, **Net New Shop Openings**, and **Total Shops Trading** are only provided for 2025, so no comparison is available.
4. The percentage change in **Net Cash Position** is calculated as: `( (ยฃ47 - ยฃ125) / ยฃ125 ) * 100 = -62.4%`. This table provides a clear comparison of the key financials and debt position between 2024 and 2025 for Greggs PLC.