SYRACUSE, N.Y. -- Penn Traffic here said last week same-store sales for the quarter ended Oct. 30 increased 0.4%.
, had reported a 3.7% decline in same-store sales for third quarter 1998.
The company said it expects to report the rest of this year's third quarter results Dec. 7.
Penn Traffic also said it has elected to pay the interest on its 11% senior notes due 2009 in cash for the initial interest period ending Dec. 29. The company added it expects to make all future payments on these notes in cash.
"Our efforts over the past year to improve our business and balance sheet are clearly beginning to pay off," said Joseph V. Fisher, Penn Traffic president and chief executive officer.
