Bakery chain Greggs is heading for its first annual loss since the company was established 82 years ago (The Telegraph). The Greggs bakery chain, famous for its steak bakes and vegan sausage rolls, has predicted it will crash to its first-ever annual loss as a result of the pandemic, and it does not expect profits to recover until 2022 (The Guardian). Greggs has warned that it expects to slump to an annual loss of up to £15million this year, with profits unlikely to recover to pre-pandemic levels until at least 2022 (The Daily Mail, Sky News).
The boss of Greggs is placing a big bet on city centres bouncing back strongly after Covid with plans to open 100 new shops despite the bakery chain suffering the first loss in its 82-year history (The Times £). Greggs, the UK bakery chain renowned for its sausage rolls, plans to open 100 new shops this year even as the pandemic leaves the group facing its first annual loss since listing in 1984 (The Financial Times £).
The FT’s Lombard column writes: “How you think about Greggs’ future really depends on whether you believe 2022 will be remotely like 2019… The half-filled meat pasty view is that, if working from home trends become habits, Greggs will be forced to rethink its high street and transport hub locations.” (The Financial Times £)
Things are bad if even Greggs is set for a loss - but it will bounce back, writes Ben Marlow in The Telegraph. The bakery chain is braced for its first annual loss in its 82-year history after sales tumbled - but it could have been worse. (The Telegraph)
Asda has urged customers to “shop considerately and not buy more than they normally would” after the latest lockdowns were announced. (Sky News)
Northern Ireland is facing disruptions to its food supply because suppliers in Great Britain are unaware of the Brexit-related paperwork needed to send goods to the region, business leaders have said. (The Guardian)
McDonald’s is temporarily suspending its walk-in takeaway service during the new coronavirus lockdown in England (The Guardian). Dine-in meals and walk-in takeaways will not be available temporarily while it reviews safety procedures (The BBC).
Ocado has sold its fledgling pet to a dog and cat accessories retailer as it prioritises its grocery business. (The Times £)
UK Hospitality says the closure of pubs, restaurants and hotels is costing business owners £500m a month, even allowing for any government support. And that has led to a huge rise in debt. (The BBC)
Walgreens Boots Alliance is to offload its Europe-focused drug wholesaling business for $6.5bn (The Times £). Walgreens Boots Alliance has done a $6.5bn deal to sell most of its Alliance Healthcare wholesale and distribution arm (The Daily Mail).
Employment conditions are the best they have been since the pandemic began as private sector activity recovered in December after November’s mini-lockdown. (The Times £)
Brazilian companies and slaughterhouses including the world’s largest meat producer, JBS, sourced cattle from supplier farms that made use of workers kept in slavery-like conditions, according to a new report. (The Guardian)