Penn Traffic Sees Slight Increase in Fourth-quarter Same Store Sales
SYRACUSE, N.Y. - The Penn Traffic Company announced that same store sales for the fourth quarter ended Feb. 2, 2002, increased 0.9 percent from the comparable prior year period. Same store sales for Fiscal 2002 (the 52-week period ended Feb. 2, 2002) increased 0.8 percent from the comparable prior year period.
"We are pleased with our same store sales performance in the fourth quarter and Fiscal 2002," said Joseph V. Fisher, Penn Traffic's president and CEO. "We achieved solid same store sales growth in the fourth quarter despite a softening economy and a greater than normal amount of promotional activity. We believe that this sales performance is a result of the implementation of our long-term strategies and the improvements we have made in the planning and execution of our holiday merchandising programs. We expect to continue to achieve these favorable sales trends in the coming fiscal year."
The Penn Traffic Company operates 218 supermarkets in Ohio, West Virginia, Pennsylvania, upstate New York, Vermont and New Hampshire under the "Big Bear," "Big Bear Plus," "Bi-Lo," "P&C" and "Quality" trade names. Penn Traffic also operates wholesale food distribution businesses serving 88 licensed franchises and 66 independent operators.
"We are pleased with our same store sales performance in the fourth quarter and Fiscal 2002," said Joseph V. Fisher, Penn Traffic's president and CEO. "We achieved solid same store sales growth in the fourth quarter despite a softening economy and a greater than normal amount of promotional activity. We believe that this sales performance is a result of the implementation of our long-term strategies and the improvements we have made in the planning and execution of our holiday merchandising programs. We expect to continue to achieve these favorable sales trends in the coming fiscal year."
The Penn Traffic Company operates 218 supermarkets in Ohio, West Virginia, Pennsylvania, upstate New York, Vermont and New Hampshire under the "Big Bear," "Big Bear Plus," "Bi-Lo," "P&C" and "Quality" trade names. Penn Traffic also operates wholesale food distribution businesses serving 88 licensed franchises and 66 independent operators.