A&P to see $130 million gain from real estate transactions

A&P, parent company of Super Fresh, Pathmark and others, announced last week that pending leasehold sales and sale-leaseback deals are expected to generate in excess of $130 million for the company. The properties affected were not identified.

President Sam Martin said the additional liquidity will help A&P invest in its stores and execute its strategic initiatives.

A&P, which emerged from bankruptcy a year ago, has continued to struggle and recently closed three Philadelphia area Super Fresh stores and has expressed interest in selling its Food Emporium chain.

Sam Martin has "embedded a strong burning imperative" at A&P

I stumbled on a blog at Forbes.com by George Bradt called "The New Leaders Playbook." The March 16 blog entry below is the result of Bradt's interview with A&P CEO Sam Martin and the process Martin is going through to turn around the troubled grocer.

Among other things, the author credits Martin with successfully accomplishing step 6 of his leadership playbook: embedding a strong burning imperative. Bradt defines this step as a sharply defined, intensely shared, and purposefully urgent understanding from each of the team members of what they are "supposed to do, now."

Well, that's good.

How CEO Sam Martin is Driving the Imperative to Overhaul A&P