* The Great Atlantic & Pacific Tea...
From Times Wire Services
* The Great Atlantic & Pacific Tea Co. said Monday that it lost $157.4 million in the first quarter because of a soured investment in a British supermarket chain and accounting adjustments.
A & P said the loss translated to $4.12 a share, contrasted with earnings of $36 million, or 95 cents per share, in the same quarter last year.
Sales fell to $3.31 billion from $3.59 billion.
Discounting the one-time, non-recurring charges, A & P posted earnings of $22.8 million in the first quarter, down 39% from the same period last year.
The company, like other supermarket chains, has been hit by the recession.
