Greggs swings to loss but ‘encouraged’ by sales since reopening

Greggs coffee cup

Greggs has tumbled into the red after store closures sparked by the coronavirus pandemic hammered its top and bottom lines.

The food-to-go specialist fell to a pre-tax loss of £65m during the 26 weeks to June 27, compared with a £37m profit the previous year. 

Sales dropped 45% to £301m across the six-month period, as like for likes halved in Greggs’ company-managed shops.

However, the business said it had been “encouraged” by trading patterns since it started reopening stores with social distancing measures in place. 

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