Greater Atlantic posts narrower per-share loss

By Matt Andrejczak, MarketWatch SAN FRANCISCO (MarketWatch) - Greater Atlantic & Pacific Tea Co., parent of A&P supermarket chain, reported Friday a narrower net loss per-share than a year ago and improving sales at its grocery stores open at least one year. After adjusting for warrants, Greater Atlantic reported a fiscal first-quarter loss of 51 cents a share, compared with a net loss of $1.54 in the year-earlier quarter. Sales rose to $2.9 billion from $1.7 billion for the three months ended June 14. Excluding the Pathmark Stores it acquired last December, the company said comparable store sales rose 3.2%. It said comparable store sales increased 3.1%. Montvale, N.J.-based Greater Atlantic operates 446 supermarkets in eight states. Besides its flagship A&P stores, the company operates under regional banners, Pathmark,... [read full story]