Costs linked to its drawn-out sale to A&P have hit first-half profits at regional US retailer Pathmark.
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The company said today (12 September) that it had made an operating loss of US$2.3m during the six months to 26 August, compared to a profits of $7.4m a year earlier.
Sales were flat, reaching $1.99bn, compared to $2bn last year.
A&P and Pathmark are awaiting clearance for the planned $1.3bn deal, which the two companies agreed in March.
Following talks with the Federal Trade Commission, the US competition watchdog, both retailers have agreed not to finalise the deal until 25 September at the earliest. The FTC is still studying the impact of the deal.
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By GlobalDataPathmark said today that costs linked to the deal had reached US$7.2m in the second quarter alone.
A&P, majority owned by German conglomerate The Tengelmann Group, runs 337 stores across eight states.
Pathmark operates 141 outlets in the New York, New Jersey and Philadelphia metropolitan areas.
