Overview
- For the year to 27 December 2025, statutory pre-tax profit declined 17.9% to £167.4m and underlying pre-tax profit fell 9.4% to £171.9m, while total sales rose 6.8% to £2.15bn.
- Company-managed like-for-like sales grew about 1.6% in the first nine weeks of 2026, with management signalling another challenging year for consumers and, per The Times, profits likely broadly in line with 2025.
- Greggs opened a net 121 shops in 2025 to reach 2,739 sites and is targeting around 120 more in 2026, reiterating a long-term goal of significantly more than 3,000 UK stores.
- The profit decline was attributed to higher fixed costs in manufacturing, logistics and technology, with cost inflation easing from roughly 6% last year to about 3% so far in 2026.
- Investor pressure remains elevated, with short interest reported above 14% and shares lower over the past year, as the company also adapts menus to emerging dietary shifts linked to GLP-1 weight-loss drugs.