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great atlantic & pacific tea Annual2000
- The 2000 Annual Report of The Great Atlantic & Pacific Tea Company summarizes the company's financial performance for fiscal year 2000 (ended February 24, 2001). - Net sales increased 4.6% to $10.6 billion compared to fiscal year 1999, driven by new store growth and a 2.2% increase in comparable store sales. However, net loss was $25.1 million compared to net income of $14.2 million in 1999, due to increased operating expenses and interest costs. - Management discussed key initiatives for fiscal 2001 including achieving operational excellence, implementing a new supply chain infrastructure, reducing costs, pursuing growth opportunities, and strengthening performance management to improve the company's financial results.
