• Safeway Inc. reported second quarter net income of $246.2 million, up from $134 million during the same period a year ago. Sales for the quarter were up 6.4 percent to $9.4 billion, with same-store sales (excluding fuel sales) up 4.2 percent.
• The Great Atlantic & Pacific Tea Co (A&P) posted a first quarter net loss of $6.1 million, a major improvement over the net loss of $89.2 million posted during the same period a year ago. Sales were down to $2.13 billion, compared to $3.38 billion a year ago, though the year-ago figures included sales by A&P Canada, which has since been sold. Q1 same-store sales were up 1.5 percent.
• The Great Atlantic & Pacific Tea Co (A&P) posted a first quarter net loss of $6.1 million, a major improvement over the net loss of $89.2 million posted during the same period a year ago. Sales were down to $2.13 billion, compared to $3.38 billion a year ago, though the year-ago figures included sales by A&P Canada, which has since been sold. Q1 same-store sales were up 1.5 percent.
- KC's View:
