Penn Traffic Trims Q1 Losses

Penn Traffic Co. said aggressive cost-saving measures helped reduce its loss for the fiscal first quarter to $9.3 million, compared with $12.4 million a year ago. The company said the loss included $2.4 million in non-recurring charges related to professional fees, closed-store costs, legal costs related to the Securities and Exchange Commission investigation, severance pay, asset

SYRACUSE, N.Y. — Penn Traffic Co. here said “aggressive cost-saving measures” helped reduce its loss for the fiscal first quarter to $9.3 million, compared with $12.4 million a year ago.

The company said the loss included $2.4 million in non-recurring charges related to professional fees, closed-store costs, legal costs related to the Securities and Exchange Commission investigation, severance pay, asset sales and Chapter 11 reorganization costs. Non-recurring charges in the ye

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