CARTERET, N.J. -- Pathmark Stores here last week termed its first-quarter sales a "major disappointment," and reduced its earnings and sales estimates for the year. The chain cited steep inflation among key categories, and a resulting failed promotion strategy, as well as higher-than-expected health care costs, for the quarter ended May 1 that saw total sales down by 1.5%, same-stores fall by 1.4%, and market share lost to competitors. The company expects to post a net loss per share of ...
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