- A&P announced what it called the “next step” in an ongoing corporate reorganization , designed to reduce costs by $50 million next year and $25 million in 2006 while at the same time it will “strengthen senior management control, focus local banners strictly on operating and customer service execution, and promote the rollout of its fresh and discount retail strategies.”
Christian Haub, A&P’s CEO, said, "Over the past two years, we have stabilized our U.S. operations and maintained the success of A&P Canada. We must now accelerate our improvement to reach and surpass breakeven performance as rapidly as possible, and drive the execution of our promising fresh market and discount retail strategies throughout our store network. These difficult but necessary actions, aligned with the unification of our U.S. management organization, will give us the cost structure and capability to execute those strategies profitably.”
- According to a new report from the USDA Agricultural Testing Service, scientists have found that the new mini-watermelons on the market may in fact have a high level of health benefits. The report suggests that the mini melons have both lycopene and beta-carotene. “Lycopene has been linked to reduced incidence of certain cancer types and lower heart-attack risk. Beta-carotene is converted in the body to vitamin A, which promotes clear vision, bone growth and healthy reproduction.
In addition, scientists have developed a low-sugar watermelon that they believe can maintain traditional melon taste while still being more acceptable to people watching their sugar intake.
- The US Bankruptcy Court has approved the purchase by Penn Traffic’s P&C division of two Peter’s Supermarkets in Syracuse, NY, which will be converted to the P&C banner.
"Buying the Peter's supermarkets at these excellent locations demonstrates both the underlying strength of our core operations as we emerge from reorganization and our long-term commitment to be the supermarket of choice in Syracuse," said Bob Chapman, President and Chief Executive Officer of The Penn Traffic Company. "This strategic acquisition clearly makes sense for P&C and Penn Traffic at this time."
Terms of the deal were not revealed.