SYRACUSE, N.Y. -- Penn Traffic Co. here said last week that sales declined and its net loss increased in the first quarter ended May 1 as the company attempted to work out the details of a Chapter 11 bankruptcy reorganization.
to $615 million for the 13-week quarter, while same store sales decreased 4.5% The net loss for the quarter rose to $23.1 million. However, excluding $3.7 million in income from the sale of assets in connection with the reorganization and $8.4 million in reorganization-related costs, the net loss was $18.4 million. Operating cash flow declined 48.8% to $15.4 million.
