A&P Calls Retreat an Advance
By George Anderson
The Great Atlantic & Pacific Tea Co. has just come off what chairman and chief executive Christian Haub calls its “best quarterly performance in almost three years.” So, what better time to get out of Dodge, or at least the Midwest and Canada, than now?
The company announced yesterday that it was taking steps to rid itself of its businesses in Michigan and Ohio. It also is considering a sale of its Canadian operations so it can strengthen its balance sheet and “focus greater attention and resources on our core U.S. operations and pursue the implementation of our fresh and discount retail formats.”
Moderator’s Comment: What is your take on A&P’s announcement of a “major reorganization”? –
George Anderson – Moderator