Pathmark Stores reports slight dip in Q2 sales
By NS Admin Published 30 November 1999The company reported a net loss of $18.8 million, or $0.36 per diluted share, for the quarter compared to a net loss of $8.8 million, or $0.17 per diluted share, in the prior year's second quarter. The increase in the net loss of $10 million was primarily due to pre-tax expenses of $7.2 million related to the proposed merger with The Great Atlantic & Pacific Company, pre-tax charges of $7 million related to the company's withdrawal from a multi-employer pension plan and a pre-tax charge of $2.2 million related to the impairment of a long-lived asset, partially offset by a gain of $5.5 million on the sale of real estate and higher adjusted EBITDA.
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