Greggs, the high street baker, was already suffering difficult trading conditions, and the rioting has made things even worse.
The company said 19 shops had been closed in London after the chaos, with overnight deliveries at a number of stores also affected. Greggs chief executive Kennedy McMeikan told Reuters one shop was looted and anther badly damaged by fire.
In its half year results statement the company said like for like sales were up 0.4%, operating profit was down £1.2m to £17.3m after a £2m hit from the impact of the two extra bank holidays. It added:
Trading conditions have proved to be more challenging than we had expected and we do not anticipate that the second half will bring any alleviation of the tougher consumer spending environment with disposable incomes remaining under pressure. We continue to experience substantial increases in commodity prices.
Patrick Coffey at Liberum Capital issued a sell note, saying it was a very cautious statement and 3% earnings per share growth in 2011 would be "pedestrian."
