By Tara Rippin • 06 January 2021 • 11:04
Greggs is bracing itself for £15 million losses and admits the bakery chain will struggle to recover from Covid.
Like-for-like sales reportedly fell 18.9 per cent on average year-on-year over the group’s fourth quarter to January 2, 2021.
Greggs, which recently axed 820 jobs, revealed total sales for the year dropped by almost a third to £811 million, but said Government support had helped limit full-year pre-tax losses.
The chain admitted it is not expecting profits to recover to pre-pandemic levels for at least two years.
Chief executive Roger Whiteside said the chain’s partnership with Just Eat to offer delivery services and with Iceland, offering our products for home baking, have proved successful.
But he said there is still “uncertainty” in light of recent Government announcements though the chain remains optimistic.
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Tara Rippin is a reporter for Spain’s largest English-speaking newspaper, Euro Weekly News, and is responsible for the Costa Blanca region.
She has been in journalism for more than 20 years, having worked for local newspapers in the Midlands, UK, before relocating to Spain in 1990.
Since arriving, the mother-of-one has made her home on the Costa Blanca, while spending 18 months at the EWN head office in Fuengirola on the Costa del Sol.
She loves being part of a community that has a wonderful expat and Spanish mix, and strives to bring the latest and most relevant news to EWN’s loyal and valued readers.
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