Tops’ Q1 Sales Down, Profits Up

WILLIAMSVILLE, N.Y. — Tops Holding Corp. here, parent of the Tops Friendly Markets chain, swung to a first-quarter profit this year, although the timing of the Easter holiday and the disposition of five former Penn Traffic stores contributed to a reduction in first-quarter sales, the company said.

Net income totaled $651,000 for the 16-week quarter, which ended April 12, vs. a loss of $2.1

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