Investors Dump Shares as A&P Posts Q1 Loss

A skittish market punished A&P for what analysts termed a and poorly communicated quarterly earnings report but not an altogether bad one. Stock in the retailer plummeted by more than 25% after A&P reported a greater net loss and lower EBITDA than analysts had expected, and acknowledged making a $5 million glitch in transitioning merchandising functions from Pathmark to A&P. Those items

MONTVALE, N.J. — A skittish market punished A&P for what analysts termed a “noisy” and “poorly communicated” quarterly earnings report — but not an altogether bad one.

Stock in the retailer plummeted by more than 25% after A&P reported a greater net loss and lower EBITDA than analysts had expected, and acknowledged making a $5 million glitch in transitioning merchandising functions from Pathmark to A&P. Those items appeared to obscure the fact that sales improved by

Register to view the full article

Already a member? .