SYRACUSE, N.Y. -- Penn Traffic Co. here said its board of directors has authorized the repurchase of up to 500,000 shares of its common stock, either on the open market or through private transactions. The 269-store company has approximately 10.8 million shares outstanding. A Wall Street securities analyst said Penn Traffic's buy-back disclosure was made about six weeks prior to the release in late November of the chain's third-quarter results. "[Those results] could be below expectations," ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Why Register for FREE?
Registering for content on Supermarket News will give you INSTANT access to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’s FREE, easy and quick. What are you waiting for! In addition you will also receive complimentary access to the SN salary survey data tables.
Attention Paid Print Subscribers: While you have already been granted free access to SN we ask that you register now. We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.