Greggs has reported a surge in sales helped by “increased customer visits” as it expects its full-year outcome to be “in line with previous expectations”.
The food-to-go retailer saw sales leap by 20.8% in the 13 weeks to September 30, while shop like-for-like sales were up 14.2% in the same period.
The group said the like-for-like performance was helped by “increased customer visits” that reflected the continued development of Greggs’ evening trading, digital channels and loyalty programme through its app.
Evening trade, which comprises sales post-4pm, accounted for 8.8% of company-managed shop sales in Q3, while app participation grew to 13.1%.
Greggs opened 144 new shops and closed 62 shops in the year to date, giving the business a total of 2,410 shops as of September 30.
The group said it expects 2023 to be a “record year” for the number of new shops opened as it expands into new locations. It expects between 135 and 145 net shop openings for 2024 and continues to invest in its supply chain.
Greggs has also made its products available on the Uber Eats platform following a successful trial and expects to have around 500 shops using it by the end of October.
In a statement, the group said: “We have strong product and promotional plans for the fourth quarter and the extension of our delivery service will make Greggs accessible to more customers on more occasions.
“Whilst acknowledging the uncertainty in the economy as a whole and the very strong comparative performance of the business in the fourth quarter of 2022, the board expects the full-year outcome to be in line with its previous expectations.”