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Greggs plans 100 new shops despite Covid driving it to first loss since 1984
Britain’s biggest bakery chain is cutting 820 jobs but sales have improved in 2021
Greggs has made its first annual loss since floating on the stock market nearly 40 years ago on the back of coronavirus store closures, but is staging a comeback in 2021, with plans for a further 100 shops and new home delivery services.
The company, known for its sausage rolls and steak bakes, made a pretax loss of £13.7m in 2020, compared with a profit of £108m the year before. Lockdown store closures wiped more than £350m off annual sales, which fell to £811m, resulting in the first annual loss since it floated on the London Stock Exchange in 1984.
Read the original article at The Guardian