SYRACUSE, N.Y. -- Penn Traffic Co. here said sales for the fourth quarter ended Feb. 3 increased thanks to improved holiday marketing, its store managers' in-store merchandising efforts and the positive impact of the loyalty card it introduced in its 70 Big Bear stores in September.
fourth quarter. EBITDA for the quarter increased 1.8% to $32.1 million.
"Certainly we can say that our recovery period is behind us," Joseph V. Fisher, Penn Traffic president and chief executive officer said during a conference call following the release of the results.
For the year, sales were up 2.5% $2.5 billion, but the company posted a net loss of $100 million, compared to income of $410 million in the previous year.
