Some People Still Can’t Access a Greggs, Says Boss – As She Denies UK Has Reached “Peak Greggs”
In a shocking twist of fate, Greggs, the beloved haven for pastry aficionados, has found itself in a pickle—much like a sausage roll that’s been left in a hot car. Following a rather lukewarm stretch of summer, the bakery’s earnings dropped faster than a poorly baked soufflé, with a 14.3% dip in sales reported. Apparently, when temperatures soar, the British populace opts for ice cream over the classic sausage roll. Who knew?
This sudden plummet sent Greggs’ share price crashing to its lowest since 2020—talk about a damp squib! Just when we thought we were on a growth rollercoaster, reaching £1 billion in sales within the first half of 2025, the ride has hit a steep incline. Last year, analysts acknowledged that almost £2 out of every £100 spent in the hospitality sector made its way to Greggs—isn’t that a lovely little statistic to chew on?
Analysts are now mulling over an alarming possibility: are we officially looking at a bakery that’s reached saturation? Fear not, says Roisin Currie, the steadfast chief executive of the chain. If anything, she feels more like an optimistic baker trying to troubleshoot a dough that won’t rise. “I completely do not believe we’ve reached peak Greggs,” she declared with the fervor of someone who hasn’t had their morning pastry yet.
Currie insists that there are still “significant parts of the UK” where one can’t get their hands on a flaky pastry. Apparently, retail parks, supermarkets, and transport hubs are still devoid of those comforting baked goods. Who would’ve thought that the people of the UK were so tragically deprived of their beloved sausage rolls?
“Greggs had warned profits would be lower than the same period last year, as the UK’s good weather stifled demand. This will do little to address fears the UK has hit peak Greggs.”
Zoe Gillespie, wealth manager at RBC Brewin Dolphin
“Lack of information on current trading has left investors wondering if the business has become as stale as a day-old Belgian bun. There are suggestions it has grown too fast, the menu is too bloated, and consumer tastes are changing. People want healthier options, and while Greggs has some of these in its stores, the core pastry-based items remain its bread and butter.”
Russ Mould, investment director at broker AJ Bell
Despite us all being breakfast enthusiasts and even surpassing McDonald’s in the morning meal category, Greggs has recently dipped its toes into the evening market. Unfortunately, as research analyst Ben Hunt from Panmure Liberum pointedly noted earlier this summer, “evening trading is not resonating with customers.” So, if you were planning on biting into a warm steak bake at twilight, better head back to the drawing board.
