Question-and-Answer Session
Operator
(Operator Instructions) And we will take our first question from Karen Shore with FBR Capital Markets.
Karen Shore - FBR Capital Markets
A couple of things I just wanted to start with, looking at Path Mark, obviously you have shown progress in the rest of your divisions. Can we just -- can you just remind me and can I just clarify what the EBITDA was by quarter this year for Path Mark as reported? I know you gave the segment data but as it relates to modeling I just want to make sure that I have these numbers right -- $50 million in the first quarter for Path Mark --
Brenda M. Galgano
Karen, I don’t have those specific numbers in front of me but I can just walk you through how to derive the number. If you look in our 10-K that we filed earlier this morning within the segment note we provide both segment income as well as depreciation and amortization, so if you add those two for price impact, that will provide you with a price impact EBITDA for the full year.
Then if you go into our third quarter Q, you do the same thing --
Karen Shore - FBR Capital Markets
Yeah, I know how to calculate that number but the numbers aren’t matching, but okay, we can go no then.
Brenda M. Galgano
Well, let me just say one thing on that -- it will not be exact because we do, under the accounting rules, we are required to restate for stores that have been converted from another format to price impact, thought the effect of that is not significant. I believe it’s probably less than $1 million, but if it’s not matching exactly, that would be why. I can -- I would be happy to walk you through that after the call.
Karen Shore - FBR Capital Markets
Okay, so as it relates to this quarter’s comp, I mean, obviously Path Mark's comps have materially turned negative, I guess, by my estimate, at least minus 3%-ish. Can you maybe try to quantify traffic versus basket, in terms of the impact on your comp?
Eric Claus
The traffic was down also -- traffic was down in Path Mark and the comps certainly were more negative than what they were before and that’s exactly the issue that we have to address.
I think what happened also with Path Mark is that Path Mark, although the actual perception of Path Mark pricing is not that bad, the actual pricing in the company was significantly higher than what it needed to be to really be a value proposition. And in the normal course of business and normal times, you take a longer period of time to address that, just as we did with A&P for the last three years where we had significantly higher prices back in 2005 in A&P. Today we have a very competitive basket and we brought that down over time. I think that what you see now in this recession, we don’t have the luxury of that time and that’s why we started accelerating some of the things that we are doing and more specifically, the whole Path Mark strategic reset, in which part of that is design of a new pricing structure. So that’s -- in these times, people gravitate to the price leader. I think that’s hurt us and I think couple that with, like I mentioned, we were not -- we were kind of media silent and we actually wanted to fix more of our issues in Path Mark before we started shouting about it. So we’ve accelerated all of that and as you will see, it started in this quarter and I think by the next call, we’ll be able to report on the progress of that.
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