UK Has Not Reached ‘Peak Greggs’, Says CEO, Despite Sales Drop in Hot Weather
The head of Greggs, the UK’s biggest bakery chain, says the company is still growing, even though sales have dropped during the recent hot weather.
Greggs reported a 14% fall in profits in the first half of the year. Many customers avoided hot baked goods like sausage rolls and pastries because of the heat, choosing cold drinks instead.
Despite this, Greggs made over £1 billion in sales between January and June — a record for the company. However, profits were lower due to rising costs, fewer people visiting stores, and more weather-related disruptions compared to last year.
Greggs made a pre-tax profit of £63.5 million during that time, down from last year.
CEO Roisin Currie said, “I don’t believe we’ve reached the peak for Greggs. We’ve had tough times before and bounced back. Our business is strong.”
She also said there are still many places in the UK without a Greggs store. The company plans to open more shops, especially in retail parks, supermarkets, roadside spots, and transport areas.
Greggs plans to open around 150 new shops each year. It’s also testing smaller “bite-size” stores that sell only the most popular items. This way, they can afford to rent in more expensive areas, especially in the south.
The company’s boss, Currie, said that during the recent hot weather, sales dropped because people tend to eat less when it’s very warm. Breakfast sales stayed strong, but sales of hot food fell during the rest of the day. Only iced drinks sold well.
Currie said the current business environment is tough. Many customers, especially those with lower incomes, are choosing to save money instead of spending it.
Greggs noticed that customers buy more when shops are nearby. Based on this, they still plan to open at least 350 new stores, including 150 this year. In the long run, they believe they could have over 3,000 locations. They also want to open more stores outside the usual high street areas and move some shops to better locations. From September, Greggs will start selling its frozen “bake at home” items in Tesco stores.
However, some experts are worried that demand for Greggs might have reached its highest point, as more people now prefer healthier food.
Greggs had already warned that profits would be lower than last year because hot weather hurt sales. This adds to fears that Greggs’ popularity might be declining.
Some investors are also wondering why the company hasn’t shared more recent sales data, especially during the busy summer holiday period when more people are out and about.
One expert said the lack of updates makes Greggs seem “as stale as a day-old Belgian bun.”
Others believe Greggs may be growing too fast, offering too many menu items, and not keeping up with changing tastes. While it has added some healthy choices, its main products are still pastries.
Currie said over 30% of the menu is now made up of healthier items. She also said Greggs is paying attention to the possible effects of diet drugs like Ozempic. While not many people are using them yet, the company is adding more protein-based items to meet future demand.
Published: 30th July 2025
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