US regional grocer Great Atlantic & Pacific Tea Co (A&P) has reported a sharp rise in quarterly net profit, helped by cost-cutting measures.
New Jersey-based A&P reported net income of US$20.3m for the first fiscal quarter to 14 June, compared to $1.9m a year earlier.
The company’s quarterly sales were $3.2bn, compared to $3.1bn a year earlier. Same-store sales fell 0.1%.
A&P said the economic and operating environment continued to put pressure on sales and profitability, reported Reuters.
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