Greggs (LSE: GRG) has had a tough year, with profits falling sharply. Last week, it said that Christmas sales were 3.1% higher than a year ago, which boosted its shares. That said, the business still faces serious long-term challenges.
Greggs has found itself caught in the high-street bloodbath caused by shoppers buying more stuff over the internet. This has meant fewer visitors to its shops, a trend the company is trying to reverse.
It’s moving away from its bakery roots and turning itself into what it calls a “food-on-the-go” retailer. This is seeing it close shops on high streets [...]
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