A&P Announces third quarter earnings.MONTVALE Montvale may mean:
For the 40 weeks year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. , the company recorded net income of $49,964,000 or $1.31 per share on sales of $7,741,303,000 vs. $31,669,000 or $.83 per share on sales of $7,770,282,000 during the same 40-week period in 1995. James Wood James Wood can refer to:
Australian breed of wool sheep, bred by crossing Merino with Corriedale, Polwarth or Zenith sheep; wool is 21 to 25 microns. It is a registered breed, but the term is more commonly used in the sense of a type of sheep produced by crossbreeding a crossbred Merino back to Merino. of our Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. company's profitability. There are now 54 Food Basics
Food Basics is a no-frills Canadian supermarket chain created by A&P Canada to compete with the successful No Frills warehouse style supermarket operated by Loblaw. stores open in Ontario Ontario, city, United States Ontario, city (1990 pop. 133,179), San Bernardino co., S Calif., near Los Angeles, in a region of vineyards; inc. 1891. , the majority of which have been converted from conventional supermarkets Supermarkets, past and present, include: Transnational Originating (HQ) country first. The rest in alphabetical order.
The company operated 974 stores at the end of the quarter and served 47 franchise stores. It opened 27 new stores, remodeled or expanded 60 existing stores and closed 67 stores during the first 40 weeks of 1996, including 23 stores, which have already re-opened or will re-open later as Food Basics franchised stores. -0-
THE GREAT ATLANTIC & PACIFIC TEA COMPANY, INC.
THIRD QUARTER EARNINGS (UNAUDITED)
(In thousands, except share amounts and store data)
12 WKS 12 WKS 40 WKS 40 WKS
ENDED ENDED ENDED ENDED
NOV. 30, DEC. 2, NOV. 30, DEC. 2,
1996 1995 1996 1995
SALES $2,318,762 $2,293,597 $7,741,303 $7,770,282
GROSS MARGIN $668,664 $ 666,121 $2,227,799 $2,245,036
GROSS MARGIN RATE 28.84% 29.04% 28.78% 28.89%
INCOME FROM
OPERATIONS $34,398 $29,235 $121,694 $105,980
NET INCOME $14,091 $ 7,735 $49,964 $ 31,669
NET INCOME PER SHARE $0.37 $0.20 $1.31 $0.83
WEIGHTED AVERAGE
NUMBER OF COMMON & COMMON
EQUIVALENT SHARES
OUTSTANDING 38,267,453 38,220,483 38,278,049 38,220,483
NUMBER OF STORES
OPERATED
AT END OF QUARTER 974 1,043
NUMBER OF
FRANCHISED STORES SERVED
AT END OF QUARTER 47 -
THE GREAT ATLANTIC & PACIFIC TEA COMPANY, INC
THIRD QUARTER EARNINGS (UNAUDITED)
(In thousands except share amounts and store data)
12 WKS 12 WKS 40 WKS 40 WKS
ENDED ENDED ENDED ENDED
NOV. 30, DEC. 2, NOV. 30, DEC. 2,
1996 1995 1996 1995
SALES $2,318,762 $2,293,597 $7,741,303 $7,770,282
COST OF MERCHANDISE
SOLD (1,650,098) (1,627,476) (5,513,504) (5,525,246)
GROSS MARGIN 668,664 666,121 2,227,799 2,245,036
STORE OPERATING,
GENERAL AND
ADMINISTRATIVE
EXPENSE (634,266) (636,886) (2,106,105) (2,139,056)
INCOME FROM
OPERATIONS 34,398 29,235 121,694 105,980
INTEREST EXPENSE,
NET (16,557) (16,929) (52,804) (55,281)
INCOME BEFORE INCOME
TAXES 17,841 12,306 68,890 50,699
PROVISION FOR
INCOME TAXES (3,750) (4,571) (18,926) (19,030)
NET INCOME $14,091 $ 7,735 $49,964 $31,669
NET INCOME
PER SHARE $0.37 0.20 $1.31 $0.83
WEIGHTED AVERAGE
NUMBER OF COMMON &
COMMON
EQUIVALENT SHARES
OUTSTANDING 38,267,453 38,220,483 38,278,049 38,220,483
NUMBER OF STORES
OPERATED
AT END OF QUARTER 974 1,043
NUMBER OF
FRANCHISED STORES SERVED
AT END OF QUARTER 47 -
CONTACT: Mike Rourke, A&P, 201/930-4236 |
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