Greggs (LON: GRG) survived August, which it called a “difficult” trading month thanks to warmer weather and missing out on the government’s Eat Out to Help Out scheme.
In the 12 weeks to 26 September, the bakery chain averaged 71.2% of sales compared to the same period a year previously.
The group, however, intends to open new stores this year, which will be located away from city centres.
Reassuring investors, Greggs said: “Our immediate priority is to complete the consultation with colleagues on the proposed changes to resource levels.
“We will do this with regard to our values and the best long-term interests of the business as a whole. We will update on the expected financial impact of these changes when the consultation ends in November.”
Greggs struggled amid the pandemic and stores closed as crowds were difficult to keep socially distanced. Compared to a £40m profit in 2019, the group recorded a £60m first-half loss.
The group has reviewed the business and will be carrying out job losses and reducing working hours for many employees.
In this current financial year, Greggs has closed 11 shops to give a total of 2,039.
Shares in Greggs (LON: GRG) are trading -3.28% at 1.179,00 (0911GMT).
