SYRACUSE, N.Y. – Penn Traffic Co. here yesterday posted a loss of $7.3 million for the second quarter, compared with a loss of $3.4 million in the year-ago period.
Same-store sales fell 6.8% for the most recent quarter, which ended Aug. 1. Revenues were down about 8.5%, to $208.8 million, following the closure of seven locations since the year-ago quarter.
Through the first half, revenues at at the 79-store retailer, which operates the P&C, Quality and BiLo supermarket banners in the Northeast, fell about 7.2%, to $408.9 million. The loss for the half-year period totaled $16.6 million, vs. $15,8 million through the first half of last year.
“As we work to emerge stronger from a very challenging economic environment that’s clearly impacting our top line, we’re redoubling our efforts to consistently deliver good value to our shoppers while improving our cost structure and operating efficiency,” Gregory J. Young, president and chief executive officer, said in a prepared statement.
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