Greggs grows in H1 2025 but cautious outlook remains
Reporting on the first half 2025 trading update, Greggs notes slower growth amidst hot weather
Greggs has delivered a 6.9% rise in total sales for the first half of 2025, reaching £1.03 billion.
Like-for-like sales increased by 2.6%, with strong trading in May offset by reduced footfall in June, attributed to unseasonably high UK temperatures. Despite a lift in cold drink demand, overall consumer visits slowed.
The bakery chain’s expansion strategy remained robust, with 87 new shops opened and 56 closures, resulting in a net gain of 31 locations.
By the end of June, Greggs was operating 2,649 shops, comprising 2,085 company-managed outlets and 564 franchised units. The brand remains confident in hitting its full-year target of 140 to 150 net openings.
Shop refurbishments were also frontloaded in the first half, with 108 completed and an additional 50 planned for the remainder of the year. These modernisations are aimed at enhancing customer experience and operational efficiency, which also opens new opportunities for in-store promotions and media placements.
Looking ahead, Greggs has indicated that full-year operating profit could come in modestly below 2024, citing the timing of shop refurbishments, ongoing cost recovery measures, and tough year-on-year comparisons. However, cost inflation remains in line with expectations, and second-half performance is projected to benefit from planned mitigation strategies.
Greggs will publish its full interim results on 29 July 2025.
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