The Grand Union Co. plans to sell off the majority of its stores to its largest supplier and The Great Atlantic & Pacific Co. Inc. (A&P) is crying foul-it has gone to court, pushing for the sale to be halted. But at least one analyst believes A&P is using the courts to stall for time as it straightens its own ship. Debbie Downie, a high yield analyst with Miller Tabak Roberts, said A&P has surprised Wall Street with lower-than-expected second quarter earnings, and lower-than-anticipated third quarter earnings expectations. Moreover, she noted that the supermarket operator has the “poorest operating margins in the industry.”
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