Strategy

Washington, D.C. -- A report released Wednesday by the Labor Department said that applications for jobless benefits declined by 24,000 to 435,000 in the week ended Nov. 6, the lowest level in four months.

The total number of people collecting unemployment insurance fell to the lowest level since November 2008, and those receiving extended payments also declined.

The four-week moving average, a less volatile measure than the weekly figures, dropped to 446,500 last week, the lowest since September 13, 2008, from 456,500, the report showed.

Montvale, N.J. -- Great Atlantic & Pacific Tea Co. said late Tuesday it will sell six Pathmark stores for $89.8 million. The company said it has entered into an agreement with Winstanley Enterprises LLC, which will acquire six Pathmark stores in New York, New Jersey, Pennsylvania and Delaware.

CEO Sam Martin said the deal is part of the company's turnaround strategy. Last month, after announcing its second-quarter loss had doubled from a year earlier, the company said its turnaround plan, including cutting costs, would help improve business.

New York City -- Women’s apparel retailer Cache reported Wednesday that it narrowed its loss for the quarter ended Oct.2 to $5 million, compared with a loss of $6.8 million in the year-ago quarter.

Revenue rose 1.3% to $45.5 million, from $44.9 million in the third quarter of fiscal 2009. Same-store sales were flat, as compared with a decrease of 21.7% in the prior year.