Greggs’ menu expansion fuels record revenue, but cost-of-living fears cast a shadow over future growth.

Greggs has crossed a major milestone, with revenue surpassing £2bn in 2024, thanks to soaring sales of pizzas, chicken goujons, and potato wedges. However, despite its growing menu, the beloved sausage roll remains the undisputed king of the bakery chain’s sales.

The company, traditionally famous for its pasties and baked goods, has been expanding its offerings to appeal to a wider audience. Chief executive Roisin Currie said hot food deals, particularly pizzas, have been a “key driver” of growth. But she reassured customers that Greggs’ heart still belongs to its classics—savoury bakes still account for a third of all sales.

Beyond its menu expansion, Greggs has also shifted its focus away from traditional High Street locations. A decade ago, 80% of its shops were on the High Street. Today, nearly half are in alternative locations, including petrol stations, supermarkets, universities, and transport hubs. Evening sales are also rising, as commuters and late-night snackers turn to Greggs for their food fix.

Despite the strong numbers, the company warned of tougher times ahead. Cost-of-living pressures continue to squeeze consumer spending, while rising employment costs—including the government’s increase in National Insurance—may force Greggs to raise prices. Investors reacted swiftly, sending the bakery chain’s shares down 12% on Tuesday.

Still, analysts believe Greggs is well-positioned to weather the storm. With plans to open more shops, expand digital sales, and extend evening trading hours, the company remains on an upward trajectory—even if the iconic sausage roll still outshines its newer menu rivals