WOODBRIDGE, N.J. -- Pathmark Stores here reported net losses for the fourth quarter and fiscal year ended Jan. 31. But executives said they were encouraged by same-store sales, which improved for the fourth consecutive quarter.
e sales increased 1.0% and 0.8% in the fourth quarter and the fiscal year, respectively.
Operating cash flow for the fourth quarter was $60.1 million compared with $64.9 million in the prior year. For fiscal 1997, operating cash flow was $201.2 million, compared with $236.4 million in the prior year.
The company reported a net loss of $800,000 in the fourth quarter of fiscal 1997, compared with a net loss of $10.0 million in the prior year. For fiscal 1997, Pathmark reported a net loss of $35.7 million, compared with a net loss of $20.8 million in the prior year.
Pathmark said comparisons of operating results were affected by pretax last-in, first-out credits of $4.6 million in the fourth quarter of fiscal 1997.
Current-year results also include a $7.5 million extraordinary item representing a net loss on early extinguishment of debt.