Greggs has reported a major impact on its full-year earnings forecast due to a recent heatwave that deterred customers from purchasing hot food offerings. This resulted in a noticeable decline in customer footfall and appetite for warm pastries and sandwiches. While like-for-like sales for the first half of the year increased by 2.6%, growth slowed down in June. The unusual high temperatures led to an increase in demand for cold drinks but negatively affected overall sales, prompting expectations of modestly lower annual operating profits.
Greggs has warned that its full-year earnings forecast has been significantly impacted by the recent heatwave, as soaring temperatures deterred customers from its hot food offerings.
The company reported a noticeable decline in footfall and a reduced appetite for its signature warm pastries and sandwiches as the nation sweltered.
Greggs noted a distinct slowdown in growth during June, directly attributed to high temperatures impacting consumer purchasing patterns.
While overall like-for-like sales for the six months to June 28 still saw a 2.6% increase, very high temperatures affected the UK, increasing demand for cold drinks.
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