• Safeway Inc. said yesterday that its second quarter profit was up 1.8 percent to $238.6 million, on Q2 sales that were down 6.5 percent to $9.46 billion. Same-store sales for the period were down 1.5 percent excluding fuel sales.
• The Great Atlantic & Pacific Tea Co. (A&P) announced that it had a second quarter loss of $65.2 million, compared to a profit of $1.3 million during the same period a year ago. Q2 sales decreased 4.5 percent to $2.79 billion, on same-store sales that dropped 3.3 percent.
At the same time, Ron Burkle’s Yucaipa Cos. announced that it is investing $115 million in A&P, adding to an existing investment and getting two new members on the board of directors.
• Amazon.com reported yesterday that its second quarter earnings were $142 million, down 10 percent from the $158 million reported during the same period a year ago – a decline that the company ascribed to a legal settlement it reached with Toys R Us over online exclusivity agreements. Q2 sales were up almost 15 percent to $4.65 billion.
• The Great Atlantic & Pacific Tea Co. (A&P) announced that it had a second quarter loss of $65.2 million, compared to a profit of $1.3 million during the same period a year ago. Q2 sales decreased 4.5 percent to $2.79 billion, on same-store sales that dropped 3.3 percent.
At the same time, Ron Burkle’s Yucaipa Cos. announced that it is investing $115 million in A&P, adding to an existing investment and getting two new members on the board of directors.
• Amazon.com reported yesterday that its second quarter earnings were $142 million, down 10 percent from the $158 million reported during the same period a year ago – a decline that the company ascribed to a legal settlement it reached with Toys R Us over online exclusivity agreements. Q2 sales were up almost 15 percent to $4.65 billion.
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