A&P Stock Up After Earnings Report

A&P saw its stock price rise nearly 25% yesterday after the company reported a smaller third-quarter loss on continuing operations.

MONTVALE, N.J. — A&P saw its stock price rise nearly 25% yesterday after the company reported a smaller third-quarter loss on continuing operations. The loss for the quarter, which ended Nov. 29, was $3 million, compared with net income of $73.1 million a year ago, when results included a gain of $106.1 million from the sale of A&P’s shares in Metro, the Montreal-based operator to whom A&P sold its Canadian holdings in 2005.

Adjusted operating cash flow for the quarter was $78 million, compared with $20.5 million a year earlier. Sales for the quarter rose 61.5% to $2.1 billion, with comparable-store sales up 1.9% at A&P stores and down 0.5% at Pathmark. For the year to date, the loss on continuing operations was $2.8 million, compared with net income of $131.5 million, which included a gain of $184.5 million from the sale of the Metro shares.

Adjusted operating cash flow for the period was $241.2 million, compared with $87.2 million. Sales for the 40-week period rose 71.4% to $7.2 billion, with comps up 2.7% at A&P and 2% at Pathmark.

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