PENN TRAFFIC BIDS TO REGAIN CUSTOMERS BY PRICE CUTTING

SYRACUSE, N.Y. -- Penn Traffic here said last week it lowered prices on thousands of items at its 262 corporate stores as part of a sweeping new program to win back customers and to reverse a slide in same-store sales.The cost of the lowered prices will be partially offset by lowered operating costs, the company said.The new strategy was announced as same-store sales figures showed a disappointing

SYRACUSE, N.Y. -- Penn Traffic here said last week it lowered prices on thousands of items at its 262 corporate stores as part of a sweeping new program to win back customers and to reverse a slide in same-store sales.

The cost of the lowered prices will be partially offset by lowered operating costs, the company said.

The new strategy was announced as same-store sales figures showed a disappointing 12% decline for the month of September. Same-store sales, in a tumble for seve

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