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A&P’s 4Q Loss Widens on Pathmark Acquisition Costs

BY CSA STAFF

Montvale, N.J. Great Atlantic & Pacific Tea Co. said Tuesday its fiscal fourth-quarter loss widened on costs related to its acquisition of Pathmark Stores Inc.

The parent company of A&P and other supermarket chains reported a loss of $61.5 million compared with a loss of $7.2 million a year earlier. Losses from continuing operations quadrupled to $44.6 million compared with a loss of $11 million.

Quarterly sales for the period ended Feb. 23 soared 73% to $2.2 billion from $1.27 billion, beating Wall Street’s estimate of $2.19 billion.

Same-store sales rose 3%, excluding sales related to Pathmark, which was acquired at the beginning of the quarter for $665 million. Pathmark same-store sales edged up 1.5%.

For the year, the company reported a loss of $160.7 million compared with a profit of $26.9 million a year ago. Income from continuing operations climbed to $87 million from $12.8 million.

Annual revenue increased to $6.4 billion, up 19% from $5.37 billion in the previous year.

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Report: Sears prepares for challenging future

BY CSA STAFF

HOFFMAN ESTATES, Ill. Sears Holdings chairman Edward Lampert reportedly said his company is preparing itself to face further economic challenges.

Lampert said that despite his company’s recent difficulties, such as reporting a near 50% drop in its 4Q net income, it is reducing its own debt and trying not overextend itself.

Lampert added that Sears is targeting its efforts on improving the shopping experience for its customers.

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Bon-Ton signs licensing deal with Victor Alfaro

BY CSA STAFF

YORK, Pa. Bon-Ton Stores has signed a license and design agreement with Victor Alfaro, an international designer, for an exclusive private brand collection, Victor by Victor Alfaro, which includes misses’, petite’s and women’s apparel, as well as shoes, accessories, jewelry and handbags.

Under the agreement, which was structured by ACI Licensing as the licensing agency on behalf of Victor Alfaro, the collection will be designed by Victor Alfaro. Bon-Ton will manage the sourcing, manufacturing, distribution and marketing of the collection.

Bud Bergren, president and ceo of Bon-Ton, commented, We are very excited about our new partnership with the acclaimed designer Victor Alfaro. The distinctive styling, quality and the value of this exclusive line strengthens Bon-Ton stores position as a destination for fashionable, exclusive apparel and accessories. The collection will have a broad appeal as it crosses a wide range of age groups and demographics. Victor by Victor Alfaro is a compelling addition to our portfolio of exclusive private and national brand offerings which makes Bon-Ton the right place for our customers. 

The Victor by Victor Alfaro line will launch in September 2008 complete with a media and marketing program, fashion shows and personal appearances by Victor Alfaro. The collection addresses the wardrobe needs of the modern and confident woman, with a nod to the classics, and will include luxurious fabrics such as Italian merino wool and cashmere. The shoe collection is made of the finest quality leather. Jewelry and handbags will add the finishing touch with unique beading, designs and leathers. The new line will be sold in 153 stores initially and expand to all stores in spring 2009.

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