Supermarket chain Great Atlantic and Pacific Tea Co, better known as A&P, has posted a narrower third quarter loss compared to the third quarter of the previous year.
Go deeper with GlobalData
A&P said its net loss was US$29.7m for the quarter to 30 November, compared to a net loss of $89.6m a year earlier.
Chairman and CEO Christian Haub said it was one of the worst quarterly performances in some time and that the company is considering options to lighten its debt load, including possible asset sales.
Haub also said that employee benefit costs were increasing at too high a level and that A&P’s management was looking at ways to lessen health care costs, reported the Associated Press.
Sales dropped 2.3% to $2.47bn from $2.53bn a year earlier, while same-store sales were up 0.1%.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
