A tray for bakery items includes a floor and side walls extending around a periphery of the floor. The tray has a relatively thin upper edge with a bail member pivotably attached to the upper edge along at least one of the first and second pairs of side walls. The bail member is rotatable between a stack orientation wherein a like tray may be rested upon the bail member, and a nest orientation in which like trays may be nested within like trays. Further, one or more side walls also includes a relatively large continuous opening therein capable of retrieving bakery items stored in the tray through the at least one pair of side walls, the opening extending generally from the upper edge to the periphery of the floor. In another embodiment, at least one of the sidewalls is pivotably attached to the floor and is movable between an upright position and a collapsed position.