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By Alec Mattinson2021-03-16T08:57:00+00:00
Top story
Bakery and food to go chain Greggs has reported its first loss since it floated in 1984 as the coronavirus and resultant store closures hammered sales.
Greggs reported a pre-tax loss of £13.7m for the 53 weeks to 2 January, compared to a profit of £108.3m in the same period last year.
Total sales fell 30.5 per cent to £811.3m and like-for-like sales in company-managed shops declined by 36.2% amid the closure of its shop estate in March 2020 as a consequence of the Covid outbreak.
Greggs said its trading performance since reopening its shops in the middle of 2020 has been “strong” in the context of prevailing mobility restrictions, with delivery now making a significant contribution to company-managed shop sales.