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 14 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
- No Home Comfort for TWE as Bids Collapse
- Bacardi Seeks Own History at Bombay Sapphire Home
- NPD: The Craft Cocktail Revolution
- Treasury Wine Estates: Here I Go Again On My Own
- Private-equity bids "over" - TWE head
- Carlsberg suspends production at Russian brewery
- Suntory Holdings to split beer, spirits division
- Anheuser-Busch InBev appoints new AmBev CEO
- Treasury Wine Estates pulls plug on takeover talks
- Quintessential Brands changes MD at Essential unit