WOODBRIDGE, N.J. -- Pathmark Stores here reported strong operating results, despite declining sales, for the third quarter and 39 weeks ended Oct. 29. The company reported positive net income following losses a year ago, and operating earnings for the quarter rose to $44.1 million from $13.1 million. For the 39 weeks, operating earnings were $132.6 million, compared with $75.4 million a year ago. Operating cash flow for the quarter rose to $60.8 million, or 6% of sales, compared with $53.9 million, or 5.1%. For the 39 weeks, operating cash flow was $182.1 million, compared with $149.7 million. Sales fell 2.9% for the 13-week quarter to $1.02 billion, and 2% for the 39 weeks to $3.06 billion, while same-store sales fell 2% for the quarter and were flat for the year to date.
improvement in the third quarter," noting that customer reactions to the Pathmark 2000 format continued to be positive. That format includes, among other things, a stronger perishables presentation.
At the end of the quarter Pathmark operated 20 Pathmark 2000 stores -- a number Futterman said should increase to 50 by the end of the 1995 fiscal year.