USA: A&P Expects Ongoing 2nd Quarter EPS in the Range of $0.12 to $0.14, and Comparable Store Sales to Grow Approximately 1.5%
The Great Atlantic & Pacific Tea Company, Inc. (A&P, NYSE: GAP) said today that earnings for the 12 week second quarter of fiscal 2000 ending September 9 will be below previous expectations. Ongoing earnings for the second quarter of 2000 are expected to be in the range of $0.12 to $0.14 per share, versus ongoing earnings of $0.45 per share in 1999. Reported results after special charges associated with the Company's renewal initiatives in both years are expected to be a loss of $0.14 to $0.16 per share in the second quarter of 2000, versus income of $0.14 per share in 1999. Total sales for the second quarter are expected to increase approximately 7% over the second quarter of 1999, with an increase in comparable store sales of approximately 1.5%. Christian Haub, President and Chief Executive Officer, said: "We are disappointed with our financial results this quarter, attributable to three factors:
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 16 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- What's so special about Islay anyway? - Comment
- Six key trends for alcoholic drinks in 2016
- What do Bourbon and craft beer have in common?
- Ten things to know about spirits in the US
- Aus wine industry pays price for past failures
- Alcohol industry warning over Kroger plan
- SABMiller hits back in UK corporation tax row
- Suntory bids for Lucozade, Ribena Nigerian network
- Diageo's Orphan Barrel The Gifted Horse - NPD
- American rye whiskey sales leap 600% in five years
- What Next for Beer and Brewers Following the MegaBrew Deal?
- Global travel retail insights - market forecasts, product innovation and consumer trends
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research
- Global Whiskey Market 2016-2020