A&P looks to Yucaipa to help re-think business strategy
Faced with dismal financial results during a down economy, the Great Atlantic & Pacific Tea Co., Inc. is conferring with one of its top investors, West Coast-based Yucaipa, to help it figure out how to staunch the bleeding.
Supermarket News reported "the financial results included a $412.6 million write-down for Pathmark. EBITDA of $36 million declined 54% from the same period last year and came in well below analyst expectations of $67.8 million. Comparable-store sales fell by 5.8%."
The Wall Street Journal also has more.
A&P: 'A New CEO Coming Soon'
A&P’s next chief executive officer should be in place by the time the retailer’s new fiscal year begins in March, officials said Tuesday. A&P has been operating under interim CEO Christian Haub since firing Eric Claus from its top position in October.
Two New York City stores (Western Beef & Foodtown) will be the first to attempt to redeem public financing from the recently passed F.R.E.S.H. measure through the NYC Council.
Walmart said it will close 10 underperforming Sam’s Club stores later this month and cut 1,500 jobs to reduce costs.
Hannaford expands its 'Keep Local Farms' initiative
Hannaford Supermarkets became the first retailer in the country to implement the Keep Local Farms initiative, which connects consumers with dairy farmers through education and direct support. Together with local dairy farmers, Hannaford launched the program in its 171 locations in New England and New York yesterday.
NY Times: Labor's Campaign Against Taxing Health Plans.
The UFCW is holding a 'Click to Action Day' today!
"A significant portion of the American workforce is working part-time and in the declining economy, even more full-time workers are becoming involuntarily part-time. These workers have less access to health care than their full-time counterparts, and the Senate health care bill, if passed as written, will only accelerate this process. We have one last chance to fix the bill. Representatives must hear from you right away." Find out more at www.fixthebill.org
President Obama meets with Labor leaders to discuss Health Care Tax.
The Harold Ford Jr. camp is calling Kristen Gillibrand a "White House puppet"