A&P (GAP) swung to a second-quarter loss as sales fell.
The Montvale, N.J., supermarket chain lost $511,000, or a penny a share, for the quarter ended Sept. 9, reversing the year-ago gain-influenced profit of $592 million, or $14.40 a share. Sales fell to $1.57 billion from $1.6 billion a year earlier. Year-ago earnings reflect the sale of A&P's Canadian operations, which generated a pretax gain of $919 million.
Analysts were looking for a 29-cent loss on sales of $1.59 billion.
U.S. same-store sales rose 0.2% in the latest quarter.
"We remained on course in the 2nd quarter, further reducing our operating loss while increasing comparable store sales," the company said. "Although summer weather extremes impacted our rate of sales growth compared with prior quarters, our fundamental merchandising and operating strategies kept us moving in the right direction. Going forward, we remain focused on those strategies and the ongoing improvement of top and bottom line results."