Posted: Dec 13, 2010
UPPER SADDLE RIVER, NJ (December 13, 2010) - "Looking back almost 60 years into the Food Institute archives, The Food Institute reported A&P as aforce to reckon with, as the retailer accounted for some 13% of all food store sales back in 1951," said Food Institute President Brian Todd.
The Great Atlantic & Pacific Tea Company, Inc. - A&P - filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code, to help facilitate A&P's financial and operational restructuring. The 395 A&P stores will continue to operate, according to the company's press release. Food Institute Report archives show A&P as an industry leader that operated upwards of 4,000 stores just 60 years ago.
In 1951, "A&P accounted for some 4,600 stores nationwide, and boasted $3.0 billion in sales. Nowadays Wal-Mart claims that position, with its nearly 3,000 stores ringing up an estimated $154 billion in food sales, accounting for about 18%-19% of all U.S. retail food sales," Brian Todd said.
A&P has gone through several configurations over the past 80 years or so, according to The Food Institute.
For example, the May 26, 1951 edition of The Food Institute Report sites signs of streamlining as a result of the growth of the traditional supermarket. "By 1930...A&P had 15,422 stores and was selling a billion dollars worth of foodstuffs per year. Six year's later [it] reluctantly read the handwriting, plumped for supermarkets." By 1951, its 4,600 stores did $3 billion in sales.
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