Greggs PLC (LSE:GRG) reported a further slowdown in sales growth in the third quarter but insisted that its full-year outlook was unchanged.
The bakery chain said total sales rose 6.1% in the 13 weeks to 27 September, down from 7% in the first half of the year.
Like-for-like company-managed shop sales increased 1.5% in Q3, compared to 2.6% in the first half.
The FTSE 250-listed group said its trading performance improved through August and September following heat-impacted trading in July.
There have been 130 new shops opened in the year to date and 73 closed, resulting in 57 net new openings.
"We now expect around 120 net new shop openings, slightly lower than our previous estimate, reflecting the timing of opportunities,” the company said.
The company is investing in new supply chain capacity, with automation testing underway at a Derby facility due in 2026 and construction nearing completion at a Kettering site expected to begin operations in 2027.
“The board's expectation for the full year outcome is unchanged and we remain clear on the strategic opportunities that lie ahead,” Greggs concluded.