Summary Box: A&P’s woes deepen on bigger loss, CEO resignation

Summary Box: A&P’s troubles

WHAT HAPPENED: Great Atlantic & Pacific Tea Co. reported a wider loss in the first quarter, its CEO stepped down and its shares hit their lowest point in at least 25 years.

WHY IT MATTERS: A&P is one of the nation’s oldest supermarket chains and was once one of the largest. It now operates 429 stores in the Northeast under banners such as A&P, Pathmark, The Food Emporium and others.

WHAT NOW: Former Office Max executive Sam Martin takes over as the company’s second CEO in less than a year. The company says it has a turnaround strategy under way to lower costs, increase revenue and raise capital.