LONDON (dpa-AFX) - Greggs Plc. (GRG.L) said it plans to re-open about 800 shops to takeaway customers later this week, on Thursday 18th June.
The company said it is unable to predict the impact of social distancing on its ability to trade or on customer demand. However, its capacity to operate will be restricted by size of shop. The company anticipates that sales may be lower than normal for some time.
The company will maintain a proportion of its employees on furlough, either fully or partially, until sales levels begin returning to normal.
Citing lower sale expectations, the company said it has limited its initial product range to its best sellers and therefore a number of its manufacturing operational teams will remain furloughed until demand reaches a level that justifies the addition of remaining product lines.
The company has temporarily suspended its new shop opening programme with the exception of a few shops where it is already legally committed or it anticipates strong customer traffic. As a result, the company now expects to open 60 shops and close 50 over the year as a whole.
The company said it has reviewed its existing estate and is approaching landlords making a variety of proposals in return for rent reductions. All landlords have been informed of its plan to move to monthly rent payments from June. The company made its full quarterly rent payment in March as usual.
The company has continued with the investment in its new robotic frozen logistics facility in the North East, which will significantly improve efficiency under all trading conditions.
Copyright RTT News/dpa-AFX