Aryzta Sees 'Further Improvement' In Revenue Trend In July
Aryzta saw a 'further improvement' in the revenue trend of the business in July.
The company recorded a 18% fall in revenue for the month.
This compares to a 23% fall in June, a 36% in May and 49% drop in April.
The bakery firm said that its Quick Service Restaurant (QSR) and Retail businesses are gradually improving, while Foodservice is still significantly down.
It added, in Europe most economies are re-emerging from lockdown but there is concern about a second wave of restrictions in some countries.
In North America, sales are improving but are still experiencing volatility as some States and major cities reinstate restrictions, the company said.
QSR and Retail remain relatively strong whereas Foodservice is still heavily impacted by COVID-19 related restrictions.
In the rest of the world - similar to all other regions, Foodservice remains negatively impacted.
The performance in Brazil is improving but remains challenging whilst there is growing concern over impact of a second wave of infections in Australia and Japan, the company added.
In Europe only one bakery is still fully paused, compared to three as of 30 April, while 69 out of 83 lines are currently operational.
In North America only one bakery is still fully paused, compared to five as of 30 April, while 63 out of 70 lines are currently operational.
Overall, Aryzta said that it has in the region of 14% of staff furloughed versus almost 30% as of 30 April.
© 2020 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click sign-up to subscribe to Checkout.