Word: finast
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Dates: during 1972-1972
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...last January, when A. & P. started a cut-rate drive called WEO (for Where Economy Originates), earnings for many chains have reached the vanishing point. A. & P. increased sales volume 9% in the quarter ending last May, but it reported a $20 million loss. In its last fiscal year, Finast showed a deficit of $689,000. Kroger reported a 10% earnings dip in its June interim report, and Grand Union a drop of 38%. The war is hottest in the East and Midwest, where A. & P. is strongest. On the West Coast, where discounting has been practiced for years, many...