Penn Traffic Cuts Costs, Reduces Q1 Loss

"Aggressive cost-saving measures" helped Penn Traffic Co. reduce its net loss for the first quarter, which ended May 2, to $9.3 million, compared with $12.4 million a year ago.

SYRACUSE, N.Y. — "Aggressive cost-saving measures" helped Penn Traffic Co. here reduce its net loss for the first quarter, which ended May 2, to $9.3 million, compared with $12.4 million a year ago.

The company said the loss included $2.4 million in non-recurring charges related to professional fees, closed-store costs, legal costs related to the Securities and Exchange Commission investigation, severance pay, asset sales and Chapter 11 reorganization costs.

Non-recurri

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