A AND P <GAP> SETS HIGHER CAPITAL SPENDING The Great Atlantic and Pacific Tea Co said its three-year 345 mln dlr capital program will be be substantially increased to accommodate growth and expansion plans for Waldbaum Inc and Shopwell Inc over the next two years. A and P said the acquisition of Shopwell in August 1986 and Waldbaum in December "helped us achieve better than expected results in the fourth quarter" ended February 28. Its net income from continuing operations jumped 52.6 pct to 20.7 mln dlrs, or 55 cts a share, in the latest quarter as sales increased 48.3 pct to 1.58 billion dlrs. A and P gave no details on the expanded capital program, but it did say it completed the first year of the program during 1986. A and P is 52.4 pct owned by <Tengelmann Warenhandelsgesellschaft> of West Germany.