PENN TRAFFIC POSTS PROFIT

SYRACUSE, N.Y. -- Penn Traffic here, which has filed a plan of reorganization with the U.S. Bankruptcy Court, said sales for the five-week period ended July 31 totaled $130.3 million, with a net income of $1.2 million and an operating income of $4.9 million.ion plan. Penn Traffic officials said the company hopes to emerge from bankruptcy in late October or early November, approximately 17 months after

SYRACUSE, N.Y. -- Penn Traffic here, which has filed a plan of reorganization with the U.S. Bankruptcy Court, said sales for the five-week period ended July 31 totaled $130.3 million, with a net income of $1.2 million and an operating income of $4.9 million.

ion plan. Penn Traffic officials said the company hopes to emerge from bankruptcy in late October or early November, approximately 17 months after it filed for Chapter 11 protection at the end of May 2003.

In other Penn Traffic news, the company said it has reached an agreement with Onandaga County here to end its sponsorship of P&C Stadium, home of the local AAA minor-league baseball team. P&C is Penn Traffic's store banner here.

A Penn Traffic spokesman told SN the company agreed to pay the county $125,000 to keep the P&C name on the facility through the end of the year. "We've enjoyed the relationship," the spokesman said. "It's been a boon for us, but we're looking everywhere we can to cut costs so we can save jobs."

He said Penn Traffic still owed about $2.7 million on the 25-year, $3.6 million contract.