Greggs expects its full-year operating profit to be “modestly” below 2024 levels, as scorching temperatures in June dented sales momentum despite strong first-half growth.
The bakery chain reported total sales up 6.9% to £1.03bn for the 26 weeks to 28 June, with like-for-like sales rising 2.6%.
However, growth slowed sharply in June as the UK experienced one of its hottest Junes on record, reducing footfall even as demand for cold drinks increased.
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Greggs opened 87 new shops in the first half of 2025 and said it remains confident of achieving 140 to 150 net openings by year-end.
The company has also completed 108 refurbishments so far, with around 50 more planned, with a bias towards the first half of the year.
The group highlighted cost inflation and wage tax pressures, which earlier prompted a price increase on its iconic sausage roll, as factors weighing on profitability, although said its cost inflation outlook for 2025 remains unchanged.
Greggs’ share price has fallen nearly 30% year-to-date amid concerns over slower sales growth and rising costs.
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