Greggs’ pre-tax profits fell -14.3% to £63.5million for the 26 weeks to 28 June 2025, it reported in its Interim Results for the first half (H1) of the year. Like-for-like sales growth also slowed to 2.6% in H1, down from 5.5% in 2024.  

The bakery chain said its H1 performance had been impacted by “challenging market footfall”, lower demand during several UK heatwaves with “more weather disruption than in 2024,” as well as a “phasing of cost headwinds.”

Roisin Currie CBE, Chief Executive at Greggs, acknowledged it had experienced “a challenging start” to the year, however, she added that the bakery chain “remains clear on the strategic opportunities that lie ahead.”

You gotta roll with it

Despite slowing profits and like-for-like sales growth, Greggs said it had made progress in adapting its offering to demand spiking later in the day.

Evenings proved its fastest growing daypart in H1, representing 9.3% of company-managed shop sales, up +0.9 percentage points year-on-year, driven by strong demand in higher footfall locations.

Additionally, it said new channels and its loyalty programme had also grown in H1.

Sales through delivery channels, including q-commerce via Just Eat and Uber Eats, now made up 6.8% of company-managed shop sales. Meanwhile, its app was scanned in 25.7% of Greggs-managed store transactions, rising by +7.4 percentage points compared to the same period last year, with customers engaging with the app shopping more frequently than previously.

Convenience and innovation to drive growth

“Through our disciplined estate expansion and focus on innovation, Greggs is evolving its offer further and making the brand more convenient for a wider range of customers,” Currie said.

Reaching +31 net shop openings in H1, growing its store estate to 2,649, Greggs remains on track to achieve its target of between 140 – 150 net new openings in 2025. It also said it sees “clear opportunity” to grow past 3,000 UK shops in the longer-term.

As part of its innovation plans, Greggs will extend availability of its frozen ‘Bake at Home’ range through a new relationship with Tesco in September, building on its existing partnership with Iceland Foods. It will also focus on menu development, including healthier choice ranges, and diversifying key growth areas, including pizzas and iced drinks.

Yet to reach peak Greggs

The bakery chain plans to focus its expansion efforts “beyond traditional high street locations” to provide more convenient access to Greggs and to reach more customers.

“I completely do not believe we’ve reached peak Greggs,” Currie told Reuters.

She added that “there are still significant parts of the UK where you cannot access a Greggs,” with retail parks, supermarkets, roadside and transport locations all areas with potential for expansion.