A&P, reporting losses of $13.49 million in its fourth quarter ended Feb. 23 and $3.81 million in the fiscal year, said yesterday that continued price competition makes a profit unlikely over the coming year.

The nation's third largest supermarket chain also announced plans for an offering of 12.5 million common share with the Tengelmann Group of West Germany, A&P's 45 percent owner, buying up to $50 million of the new stock.

A&P said its other shareholdes also would be offered new stock in the offering if it receives necessary approvals. At the recent selling price of $5.25 a share for A&P stock, the offering would raise more than $65 million to be used against short term losses and start-up costs for new discount stores.

The company's $13.49 million loss in the fourth quarter narrowed the $36.89 million loss a year earlier when the Great Atlantic & Pacific Tea Co. made a $40 million provision for costs of restructuring its operations. The fiscal 1979 loss compared with a loss of $52.19 million a year earlier that also included the restructuring provision.

Sales for latest quarter were $1.68 billion compared with $1.91 billion and totaled $6.684 billion for the year against $7.469 billion. A&P had 229 fewer stores operating at the end of thelatest fiscal year than a year earlier. f

International Business Machines Corp., citing inflation and increased capital expenditures, reported only a 2.2 percent increase in first quarter earnings to $681.49 million from $666.83milion a year earlier.

Revenues for the first quarter totaled $5.747 billion compared with $5.295 billion a year ago.

Ibm's profits equaled $1.17 a share compared with $1.14 a share a year ago on some 200,000 fewer shares outstanding after adjustment for a 4-for-1 stock split effected May 10, 1979.

"Net income continued to reflect the impact of inflation and the buildup of resources to meet customer demand," said Frank T. Cary, IBM chairman an chief executive officer. "In addition, purchases of data processing equipment increased at a muchlower rate than total gross income, further affecting the growth or earnings."

Gross income from rentals and services increased 11.3 percent over the same quarter a year ago, Cary said, whowill be replaced as chief executive officer by President John R. Opel onCary's retirement this year.

First Chicago Corp. reported its earnings for the first quarter were down nearly by half, to $18.86 million (48 cents a share) before securities transactions, from $33.93 million (86 cents) in the first quarter of 1979.

Chairman A. Robert Abboud told shareholders First Chicago experienced many of the poblems affecting other banks. "High rates of interest made it increasingly difficult to maintain our basic sources of demand and savings deposits," he said, "and also put severe pressure on the profitability of assets with relatively fixed yeilds."

Ownes-Ilinois Inc. reported record sales and earnings for the first quarter of 1980. Earnings were $26.51 million (90 cents a share) compared with $17.98 million (60 cents) for the same period last year. Sales for the first three months of 1980 were $938.02 million, compared with $816.59 million in the period last year.