PENN TRAFFIC SPENDING $60 MILLION TO UPGRADE STORES

SYRACUSE, N.Y. -- Penn Traffic Co. here plans to invest $60 million in capital expenditures this year to upgrade approximately 15% of its retail square footage, Joseph V. Fisher, president and chief executive officer, told the company's annual meeting last week.to fund improvements in Penn Traffic's distribution, manufacturing and technology infrastructure, he added.Penn Traffic's goal, Fisher said,

SYRACUSE, N.Y. -- Penn Traffic Co. here plans to invest $60 million in capital expenditures this year to upgrade approximately 15% of its retail square footage, Joseph V. Fisher, president and chief executive officer, told the company's annual meeting last week.

to fund improvements in Penn Traffic's distribution, manufacturing and technology infrastructure, he added.

Penn Traffic's goal, Fisher said, is to operate "conveniently located, modern supermarkets with a strong empha

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