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PATHMARK VOLUME SLIPS FOR FOURTH QUARTER, YEAR

CARTERET, N.J. -- Pathmark Stores here said last week that increased competitive activity and fewer stores resulted in a slight decline in sales for the year and fourth quarter ended Jan. 30.said operating cash flow -- earnings before interest, taxes, depreciation, amortization, gains on the sale of real estate and LIFO credit -- increased 5.6% for the year to $212.5 million, or 5.8% of sales, compared

CARTERET, N.J. -- Pathmark Stores here said last week that increased competitive activity and fewer stores resulted in a slight decline in sales for the year and fourth quarter ended Jan. 30.

said operating cash flow -- earnings before interest, taxes, depreciation, amortization, gains on the sale of real estate and LIFO credit -- increased 5.6% for the year to $212.5 million, or 5.8% of sales, compared with $201.2 million, or 5.4%, a year ago.

For the 13-week quarter, sales declined 2.6% to $916.3 million, and same-store sales fell 0.8%. Operating cash flow fell 3.3% to $58.1 million, or 6.3% of sales, compared with $60.1 million, or 6.4% a year ago, the company said.

Jim Donald, chairman, president and chief executive officer, said the drop in sales was due primarily to closed and divested stores in the prior year; he also said fourth-quarter sales were affected by increased competitive activity.

He said Pathmark has four stores under construction: three in New York City and one in Philadelphia.

4th-QUARTER RESULTS

Qtr Ended 1/30/99 1/31/98

Sales $916.3 million $940.7 million

Change - 2.6%

Comp-store - 0.8%

Net Income ($4.6 million) ($800,000)

52 Weeks 1998 1997

Sales $3.66 billion $3.7 billion

Change - 1.1%

Comp-store + 0.7%

Net Income ($28.5 million) ($35.7 million)