(qlmbusinessnews.com . Thurs 6th Mar, 2025) London, UK —
“From Sausage Rolls to Pizzas: Greggs Sees Record Revenue Amid Menu Diversification”
Greggs has reported record revenue exceeding £2bn last year, buoyed by increased sales of pizzas, chicken goujons, and potato wedges. Despite this diversification, the iconic sausage roll remains the firm’s top seller.
Traditionally renowned for its baked goods, the company views its expanding menu as a key element of its “further growth ambition.” Greggs has also noted a significant uptick in evening sales as it shifts its focus from traditional High Street locations to transport hubs like train and bus stations.
However, overall sales fell short of earlier forecasts due to persistent cost of living pressures, leading to a 12% slump in its share price on Tuesday morning. The company cited ongoing concerns among customers about rising energy costs and increased mortgage and rent payments. Additionally, Greggs criticised the government's recent decision to raise employer National Insurance contributions, warning that such measures might force retailers to pass on costs to consumers.
Despite these challenges, the company's pre-tax profit rose by 8.3% to £204m in 2024. Chief Executive Roisin Currie highlighted that the robust performance of its hot food menu, particularly driven by pizza deals, is fueling growth while reaffirming the importance of core products.
In a strategic move away from traditional High Street locations—where four-fifths of its shops were based a decade ago—almost half of Greggs’ current outlets now operate in alternative venues, including petrol forecourts, roadsides, transport hubs, retail parks, supermarkets, universities, and hospitals. The company also expanded its network by opening 145 new shops last year and has witnessed a rise in digital sales, with one in five customers now using its app.
Analyst Mamta Valechha from Quilter Cheviot remains optimistic, stating, “Greggs remains in a strong position, supported by its plans to open more shops, expand its menu, boost evening trading hours, and grow digital sales, even as the retail sector faces ongoing challenges.”
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