Great Atlantic & Pacific Tea Co.’s earnings...

Great Atlantic & Pacific Tea Co.’s earnings increased 9% to $103.4 million for 1987, compared to the previous year. Sales totaled $9.53 billion, up 21.7% from 1986. The Montvale, N.J.-based grocery chain company said it ended the year with 17 fewer stores than the previous year, but total selling square footage continued to increase and average sales per store rose by nearly 15%.