Greggs saw its sales slump in 2020 due the pandemic – but said trading so far this year was better than expected.
The baker has reported a £13.7m loss,its first annual loss since it listed on the stock market in 1984 as sales fell 31% but saw a progressive recovery in the second half of the year.
84 new shops opened in 2020, although there were 56 closures .The Company has currently 2,078 shops and is planning circa 100 net new shops for 2021
Chief executive Roger Whiteside said:
“Greggs has risen to the most formidable of challenges in 2020 and, while it has faced
setbacks, is recovering well. We have worked hard to do the right thing by our people,
communities and other stakeholders, and have been given great support in return.
Strategic plans have, if anything, accelerated and as lockdowns ease we are now
looking towards growth again with an emerging multi-channel offering.
Our colleagues have shown remarkable resilience and tenacity whilst ensuring we have provided the best possible customer service in very difficult conditions. We move into 2021 with optimism and ambition.
