WOODBRIDGE, N.J. -- Pathmark Stores here reported that earnings increased but sales dropped in the second quarter ended July 29.
Net income soared 303.2% to $37.5 million for the quarter. Income increased 277.3% to $41.5 million for the six months.
For 13 weeks, sales for the 142-store chain dropped 1% to $1.02 billion. For the 26 weeks, sales decreased 0.5% to $2.05 billion. Same-store sales dropped 1.2% for the quarter and 0.2% for the half.
Quarterly earnings were a