FINANCIAL WATCH

Penn Traffic Co., Syracuse, N.Y., said sales increased 10.3% to $947.8 million during the fourth quarter ended Feb. 3. Sales for the year increased 6% to $3.5 billion. Same-store sales decreased 0.9% for the quarter and 0.6% for the year. The company recorded a quarterly net loss of $27.7 million compared with net income of $8.1 million in the prior year and an annual net loss of $79.6 million compared

Penn Traffic Co., Syracuse, N.Y., said sales increased 10.3% to $947.8 million during the fourth quarter ended Feb. 3. Sales for the year increased 6% to $3.5 billion. Same-store sales decreased 0.9% for the quarter and 0.6% for the year. The company recorded a quarterly net loss of $27.7 million compared with net income of $8.1 million in the prior year and an annual net loss of $79.6 million compared with net income of $13.2 million. The losses were partially due to a change in accounting rules.