A&P LOOKING TO GROW STORE BRANDS

A&P, Montvale, N.J., said it is looking to grow profits in 2002 by increasing the penetration of private-label brands."It is within our ability to drive penetration to at least 15%" from its current level of 12%, Beth Culligan, A&P chief operating officer, told investors at the Food and Drug Retail Conference sponsored by Credit Suisse First Boston.Each percentage-point increase, Culligan said, results

A&P, Montvale, N.J., said it is looking to grow profits in 2002 by increasing the penetration of private-label brands.

"It is within our ability to drive penetration to at least 15%" from its current level of 12%, Beth Culligan, A&P chief operating officer, told investors at the Food and Drug Retail Conference sponsored by Credit Suisse First Boston.

Each percentage-point increase, Culligan said, results in a $5 million increase in EBITDA (earnings before interest, tax

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