A&P 4Q comps up 3%

MONTVALE, N.J. The Great Atlantic & Pacific Tea Company, announced that sales for the fourth quarter, which include for the first time the results of Pathmark Stores, were $2.2 billion versus $1.3 billion. Comparable-store sales increased 3%, which excludes sales for Pathmark stores acquired at the beginning of the fourth quarter. Comparable-store sales for Pathmark, measured during the same period, increased 1.5%.

A&P reported a net loss for the fourth quarter of $44.6 million or $1.40 per diluted share versus a loss of $11.0 million or 26 cents per diluted share in the same period last year.

Sales for the full year were $6.4 billion versus $5.4 billion in 2006. Comparable-store sales increased 2.4%, which excludes sales for Pathmark stores. Comparable-store sales for Pathmark increased 0.2% in the last twelve months.

Net income from continuing operations for fiscal 2007 was $87 million or $1.37 per diluted share compared to income of $12.8 million or 30 cents per diluted share for fiscal 2006. These results are not adjusted for non-operating items.