SYRACUSE, N.Y. — Penn Traffic Co. last week said ongoing efforts to reduce costs have not fully offset the volume declines it is experiencing. The company reported a second-quarter loss of $7.3 million, more than double a year ago, as same-store sales fell 6.8%. Most of the company's cost-cutting efforts involve SKU optimization and price optimization, which are tied to its agreement with C&S Wholesale Grocers, Keene, N.H., Gregory J. Young, president and chief executive officer, said. ...

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