A&P Parent’s Loss Widens in 2Q
Montvale, N.J., The Great Atlantic & Pacific Tea Co., parent company of A&P supermarkets, said Wednesday its second-quarter loss widened, as the company shed its Midwest business as part of plan to focus on the Northeast market.
Its loss for the quarter ended Sept. 8 totaled $91.3 million compared with a loss of $511,000 in the year-ago quarter. Excluding one-time costs related to restructuring, the company’s acquisition of Pathmark Stores and real estate related activity, its net loss was $5.3 million, compared with a loss of $4.9 million, during the same quarter a year ago.
Revenue rose 3% to $1.27 billion from $1.24 billion last year.
Samsung appoints top marketing officer
RIDGEFIELD PARK, N.J. Samsung Electronics America has named Steven Cook as its new senior vp and chief strategic officer for its North American headquarters.
Cook has a 26-year career in strategic brand retail marketing and most recently served as vp of worldwide strategic planning and business development for Coca Cola. Prior to that, Cook worked for Proctor & Gamble.
“Steven has extensive skills in brand differentiation, which have been honed in equally competitive industries where brand differentiation is critical,” said Samsung Electronics America president D.J. Oh.
In a statement, Cook said he looks forward to helping Samsung build on its reputation as a brand that “delivers on its promise of the best consumer electronics experience.”
Report: RFID top priority for Wal-Mart
San Francisco Speaking at an industry conference in Taiwan, Ron Moser, RFID strategy leader for Wal-Mart, said that RFID technology is important to the company and that it recognizes its role as a leader in this area, reports said.
At the Taiwan International RFID Applications Show in Taipei, Moser reportedly said that Wal-Mart could improve sales greatly by fixing its inventory issues using RFID technology. Moser added that he anticipates RFID to have a greater effect on Wal-Mart than bar codes did when they debuted in 1984.
According to reports, Moser said that he expects RFID will lead to getting products on store shelves faster, thus reducing lost sales and making missing merchandise a soon-to-be phenomenon of the past.