• The Great Atlantic & Pacific Tea Co. (A&P) reports that its fourth quarter sales were $2.3 billion, compared to $2.2 billion in the prior year, on same-store sales that were down 1.3 percent. For the 13-week fourth quarter, reported loss from continuing operations was $83.4 million compared to a loss of $44.6 million for last year’s 12-week quarter.
Sales for the 53-week full year were $9.5 billion versus $6.4 billion for the 52-week fiscal 2007. Same-store sales increased 2.0% for A&P and increased 0.8 % for the just-acquired Pathmark. Reported loss from continuing operations for the fiscal year was $86.2 million compared to income from continuing operations of $87.0 million for the 52-week fiscal 2007, which included a gain of $184.5 million from the sale of Metro Inc. shares.
A&P CEO Eric Claus said in a statement, “This year we once again saw our Fresh, Gourmet and Discount businesses grow top and bottom line while attaining our synergy targets and completing the integration of the Pathmark business. Our Price Impact or Pathmark stores were a challenge for the year … “this year we once again saw our Fresh, Gourmet and Discount businesses grow top and bottom line while attaining our synergy targets and completing the integration of the Pathmark business. Our Price Impact or Pathmark stores were a challenge for the year.”
Sales for the 53-week full year were $9.5 billion versus $6.4 billion for the 52-week fiscal 2007. Same-store sales increased 2.0% for A&P and increased 0.8 % for the just-acquired Pathmark. Reported loss from continuing operations for the fiscal year was $86.2 million compared to income from continuing operations of $87.0 million for the 52-week fiscal 2007, which included a gain of $184.5 million from the sale of Metro Inc. shares.
A&P CEO Eric Claus said in a statement, “This year we once again saw our Fresh, Gourmet and Discount businesses grow top and bottom line while attaining our synergy targets and completing the integration of the Pathmark business. Our Price Impact or Pathmark stores were a challenge for the year … “this year we once again saw our Fresh, Gourmet and Discount businesses grow top and bottom line while attaining our synergy targets and completing the integration of the Pathmark business. Our Price Impact or Pathmark stores were a challenge for the year.”
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