A&P reports 3Q comps increase

MONTVALE, N.J. A&P today reported sales of $1.3 billion for the third quarter versus $1.2 billion last year. Comparable-store sales increased 3.1%. For the third quarter, net income from continuing operations was $73.1 million or $1.73 per diluted share versus income of $32.3 million or 77 cents per diluted share in the same period last year.

For the year-to-date period, the company reported sales of  $4.2 billion versus $4.1 billion in 2006. Comparable-store sales increased 2.3%. Net income from continuing operations for year-to-date 2007 was $131.5 million or $3.11 per diluted share compared to income of $23.7 million or 57 cents per diluted share for 2006.

Eric Claus, president and ceo, said, “I’m pleased with the growing vitality of our business that continued in the third quarter, as evidenced by our continued sales improvement, Fresh store development and fundamental merchandising and operating improvements. Maintaining our momentum, while also completing the acquisition of Pathmark and the detailed plans for its integration into our company, was a monumental task accomplished successfully by our leadership team with the excellent support of our associates."