Food-to-go giant Greggs has issued a profit warning, saying that it was dealing with strong year-on-year sales comparatives and ballooning costs across the business.
In an unscheduled trading update for the 26 weeks to June 28, 2025, Greggs said its board anticipates that full year operating profits could be âmodestly belowâ that achieved in 2024 â despite âacknowledgingâ that like-for-like sales would be âless demanding in the second halfâ.
It said its board also expects first half operating profits to be lower year-on-year, reflecting âstronger comparative trading performanceâ in H1 2024 and âthe phasing of refurbishments and cost recover initiatives across the current yearâ.
Like-for-like sales grew 2.6% in the first half, as improved sales continued throughout May, but hit a stumbling block in June as temperatures soared across the UK and the increased demand for cold drinks reduced Greggsâ footfall.
Total sales for the period were up 6.9% to just over ÂŁ1bn.
During the period, Greggs opened 87 new shops, while it closed 56 stores leaving it with a combined total of 2,649 stores across the UK.
It said it remained confident in achieving its target of between 140 and 150 net new openings in the full year.
Greggs also completed 108 store refits in the first half, with a further 50 planned for the rest of the financial year.
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