Rolling coverage of the latest economic and financial news
- Bakery chain makes first loss since floating in 1980s
- Greggs made pre-tax loss of £13.7m for 2020
Greggs also says that sales so far this year has been better than expected, although the latest restrictions on retail in Scotland are hitting sales.
On current trading, it reports:
“Greggs has made a better-than-expected start to 2021 given the extent of lockdown conditions and is well placed to participate in the recovery from the pandemic. It has a clear strategy to extend its digital capabilities and to grow further in new locations, channels and dayparts.
These opportunities will benefit all of its stakeholders in the years to come.
Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
With lower-than-normal sales levels Greggs made a loss in 2020; the first time in its history as a listed business. Government support has been essential to mitigate the impact of Covid and protect as many jobs as possible through this period.
Shareholders have made a significant contribution, forgoing dividends and accepting reduced investment in the business, and there has been terrific support from our employees.
Related: Greggs to cut more than 800 jobs as Covid lockdown hits sales
Related: Thorntons to close all its UK high street stores putting 600 jobs at risk
Experts say that the numbers of blood clots and thrombocytopenia cases in people who have been vaccinated is no higher than in the population that has not received the jab. The International Society on Thrombosis and Haemostasis, representing medical experts around the world, said on Friday that “the small number of reported thrombotic events relative to the millions of administered Covid-19 vaccinations does not suggest a direct link”.
Blood clots are common, they said, but not more common in people who have had a Covid jab, from evidence so far. They recommended that even people with a history of blood clots or taking blood-thinning drugs should go and get their vaccination.
Related: Europe’s caution over Oxford vaccine about more than the science
European Opening Calls:#FTSE 6779 +0.44%#DAX 14493 +0.22%#CAC 6052 +0.26%#AEX 681 +0.28%#MIB 24228 +0.37%#IBEX 8679 +0.50%#OMX 2169 +0.32%#STOXX 3838 +0.20%#IGOpeningCall
With the DAX hitting record highs last week, it can safely be assumed that investor sentiment is fairly bullish this month with the latest German ZEW expectations survey set to rise to 74, from 71.2 in February.
We also have the latest February retail sales data for February, which could well struggle to live up to the rebound seen in January.
