Penn Traffic Posts $12.4 Million Loss as Sales Dip

SYRACUSE, N.Y. – Penn Traffic here yesterday reported a loss of $12.4 million for the first fiscal quarter that ended May 3, down from a loss of $7.4 million in the year-ago quarter.

SYRACUSE, N.Y. – Penn Traffic here yesterday reported a loss of $12.4 million for the first fiscal quarter that ended May 3, down from a loss of $7.4 million in the year-ago quarter. Revenues for the period were down about 3%, to $287.1 million. Same-store sales were down 1.4%. Wholesale revenues increased about 5.9% for the quarter, to $53.5 million, which the company attributed to three new accounts. Operating income in the retail segment, which includes about 220 stores under the B-Lo, P&C and Quality banners in the Northeast, totaled $4.7 million, while operating income from wholesale operations was $1.63 million.

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