Pathmark's fiscal results show sales gains

Pathmark Stores Inc has reported unaudited results for its 14-week fourth quarter and audited results for its 53-week fiscal year ended Feb 3, 2007.

Sales in the 14-week fourth quarter of fiscal 2006 were $1.078 billion, compared with $993.3 million in the prior year's 13-week fourth quarter. Sales in the fourth quarter of fiscal 2006, excluding the extra week, rose by 0.6% over the fiscal 2005 fourth quarter. The company reported net earnings of $1.7 million in the 14-week fourth quarter of fiscal 2006, versus a net loss of $14.6 million in the 13-week fiscal 2005 fourth quarter.

For the 53-week fiscal 2006, sales were $4.06 billion, in contrast to $3.98 billion in 52-week fiscal 2005. Sales for fiscal 2006, excluding the extra week, were flat versus fiscal 2005. The firm reported a net loss of $18.3 million in fiscal 2006, compared with a net loss of $40.1 million in fiscal 2005.