A&P announces improved results

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Steven Maxwell

BY STEVEN MAXWELL

A&P announces improved results

Tengelmann’s US retail subsidiary shows an increase in year-on-year sales as integration of Pathmark stores nears completion

A&P announces improved results

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US supermarket operator A&P has announced improved results for the first quarter of 2008, as the company nears completion of the integration of its recently-acquired Pathmark business and continues the roll-out of its Fresh store revamp scheme.

In a statement, the Tengelmann-owned group announced a 3.2 per cent increase in sales for the first quarter of 2008, ended 14 June, while sales at Pathmark stores rose by 3.1 per cent during the same period.

Overall group sales for the quarter totalled US$2.9bn compared with sales of US$1.7bn during the same stage of 2007.

During the period, the group launched the Fresh remodelling programme for its A&P business and also rolled-out a new format, Price Impact, at two Pathmark stores.

Christian Haub, executive chairman of A&P’s board, said: “It has been a good start to the 2008 fiscal year with the Pathmark acquisition on track and a strong operating momentum continuing in the business.”

“Looking ahead to the remainder of 2008, we are focused on maintaining operating momentum, capturing increased synergies, and continuing the roll-out of our format strategy, in particular our new Price Impact format at Pathmark and the fresh updates to our existing A&P banner stores.

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