A&P Adjusts Pathmark’s 2007 Results

A&P yesterday released a summary of year-ago financial results from Pathmark Stores, adjusted to conform with A&P’s financial calendar and to conform with A&P accounting practices.

MONTVALE, N.J. — A&P here yesterday released a summary of year-ago financial results from Pathmark Stores, adjusted to conform with A&P’s financial calendar and to conform with A&P accounting practices. The company, which completed the acquisition of Pathmark in December 2007, said the release was made in response to shareholder inquiries concerning the effect of the acquisition on Pathmark’s year-ago results. The adjustments added $230.3 million to Pathmark’s 2007 first-quarter sales, and reduced Q2 and Q3 sales by $76.8 million and $74.6 million, respectively. Adjusted operating losses at Pathmark totaled $1.2 million, $5.7 million and $4.5 million for the first, second and third quarters, respectively, reflecting changes in depreciation accounting and other non-operating items.

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