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.
"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.