REG - Greggs PLC - FIRST HALF 2025 TRADING UPDATE

GreggsAnnouncement

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RNS Number : 3071P  Greggs PLC  02 July 2025

 

 

 

 

2 July 2025

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

GREGGS PLC

("Greggs" or the "Company")

 

FIRST HALF 2025 TRADING UPDATE

 

 

Trading results for the 26 weeks ended 28 June 2025

 

·    Total H1 sales up 6.9% to £1,027 million

·    2.6% LFL* sales growth, with good progress in May followed by slower
growth in June as high temperatures impacted consumer purchasing patterns

·    87 gross new shops opened, 31 net openings, 2,649 shops now trading.
On track to achieve 140 to 150 net openings for the full year

·    The Board now anticipates that the full year operating profit could
be modestly below that achieved in 2024.

 

* Like-for-like (LFL) company-managed shop sales performance against
comparable period in 2024

 

Trading performance and shop estate development

 

Like-for-like (LFL) sales in company-managed shops grew by 2.6% in the first
half of 2025.  The previously-reported improved sales performance in the 11
weeks to 17 May continued through the rest of May but LFL sales in June were
impacted as very high temperatures affected the UK, increasing demand for cold
drinks but reducing our overall footfall. Total sales in the 26 weeks ended 28
June 2025 were up 6.9% to £1,027 million (2024: £961 million).

 

Our shop opening activity continued to bring the Greggs offer to more
customers.  In the first half of 2025 we opened 87 new shops and closed 56
shops, leaving a total of 2,649 shops trading as at 28 June (comprising 2,085
company-managed shops and 564 franchised units). We remain confident in
achieving 140 to 150 net openings for the full year.  Refurbishment activity
has been biased to the first half of 2025, with 108 refits being completed in
H1 and around 50 more planned for the second half of the year.

 

Outlook

 

The Company will publish its 2025 interim results on 29 July 2025.  The Board
expects first half operating profit to be lower than H1 2024, reflecting the
stronger comparative trading performance in H1 2024 and the phasing of
refurbishments and cost recovery initiatives across the current year.  For
the full year, our cost inflation outlook remains unchanged and planned cost
mitigation measures are expected to enhance second half performance.

 

Whilst acknowledging that comparative LFL sales are less demanding in the
second half of the year, in light of the current trading conditions the Board
now anticipates that the full year operating profit could be modestly below
that achieved in 2024.

 

 

 ENQUIRIES:
 Greggs plc                                Hudson Sandler
 Roisin Currie, Chief Executive            Wendy Baker / Hattie Dreyfus /

 Richard Hutton, Chief Financial Officer   Emily Brooker

 David Watson, Investor Relations          Tel:      020 7796 4133

 Tel:      0191 281 7721                   Email: greggs@hudsonsandler.com

 

 

 

Note

 

2024 and 2025 quarterly like-for-like sales growth in company-managed shops:

 

       Q1    Q2    Q3    Q4
 2024  7.6%  6.5%  5.2%  2.7%
 2025  2.4%  2.8%

 

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