City snapshot: Greggs falls to first loss as store closures drive 36% sales drop
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 ...