Losses Mount at Penn Traffic

Penn Traffic Co. last week said ongoing efforts to reduce costs have not fully offset the volume declines it is experiencing. The company reported a second-quarter loss of $7.3 million, more than double a year ago, as same-store sales fell 6.8%. Most of the company's cost-cutting efforts involve SKU optimization and price optimization, which are tied to its agreement with C&S Wholesale

SYRACUSE, N.Y. — Penn Traffic Co. last week said ongoing efforts to reduce costs have not fully offset the volume declines it is experiencing.

Register to view the full article