Sep 29, 2020

Greggs presses on with new stores as it weighs furlough job cuts

Greggs, the UK food-to-go chain, has said new store openings will outweigh closures this year despite pressing ahead with possible job cuts once the UK furlough scheme ends next month. In a trading update on Tuesday, Greggs said it hoped to add a net 20 stores by the end of 2020 despite having closed 49 so far this year. Trading across Greggs' stores averaged 71.2 per cent of the previous year's level in the three months to the end of September, the chain said, with a marginally better performance this month as people began to return to offices and schools. Greggs experienced slower sales in August as a result of the summer heat and its inability to participate in the government's discount "Eat out to help out" scheme while its seated areas remained closed. In a presentation to investors in February, Greggs chief executive Roger Whiteside had said the company aimed to have 2,150 shops by the end of 2020.

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