Greggs warned that its full-year profits will fall below last year's figures after extremely high June temperatures negatively affected customer footfall and sales. In the first half of the year, total sales rose 6.9% to £1.3 billion, with like-for-like sales up just 2.6%. The firm indicated a sharp decline in momentum in June, attributing lower demand particularly for core baked products to the record heat. It anticipates operating profit for 2025 to be modestly lower than the previous year, citing ongoing cost pressures on margins.
Greggs reported a 6.9% rise in total sales to £1.3 billion in the first half of the year, with like-for-like sales increasing by 2.6%. However, sales momentum sharply declined in June due to record-breaking heat, leading to reduced foot traffic and weaker demand for core products.
The company expects operating profit for 2025 to be modestly below last year's levels, amid elevated cost pressures from wage increases, store refurbishments, and higher national insurance contributions, which are impacting margins significantly.
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