Pathmark in the Red, but Future has Upside ; Special Charges Don't Discourage Investors
The Record, Bergen County, NJ (April 14, 2005)
Author: Kevin G. Demarrais, Staff Writer
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Pathmark Stores Inc. added more red ink to its ledger Wednesday, with lower sales and more than $270 million in special charges leading to an extraordinary loss of $262.3 million in its fourth quarter.
The loss for the period that ended Jan. 29 was $8.73 a share, compared with a gain of $9.6 million, or 32 cents a share, a year earlier, the Carlstadt-based supermarket chain said.Pathmark in the Red, but Future has Upside ; Special Charges Don't Discourage Investors
But the picture wasn't that bad. The bottom line includes a charge of $254 million for "impairment of goodwill" - an accounting term for the write down of the compa...
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