[2] Pathmark Reports Third Quarter and 39 Weeks 1999 Results.CARTERET Carteret, borough (1990 pop. 19,025), Middlesex co., NE N.J., on Arthur Kill, opposite Staten Island; inc. 1906. It has oil and copper refineries and industries that produce steel and chemicals. , N.J.--(BUSINESS WIRE)--December 1, 1999-- Pathmark Stores, Inc. reported results for its third quarter and 39 weeks periods ended October 30, 1999. Sales for the third quarter of fiscal 1999 increased 2.8% to $924.8 million compared to $900.0 million in the prior year. For the nine-month period, sales were $2,742.0 million compared to $2,738.9 million in the prior year. Same store sales Same Store Sales A statistic used in retail industry analysis. It compares sales of stores that have been open for a year or more. Notes: This statistic allows investors to determine what portion of new sales has come from sales growth and what portion from the opening of increased 1.4% and 0.1% in the third quarter and the nine- month period, respectively. Operating cash flow Operating cash flow Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. (FIFO (First In First Out) A storage method that retrieves the item stored for the longest time. Contrast with LIFO. See traffic engineering methods. FIFO - first-in first-out EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become ) for the third quarter of fiscal 1999 was $47.8 million compared to $46.5 million in the prior year and for the nine-month period was $151.1 million compared to $154.4 million in the prior year. Operating earnings Operating Earnings Profits after subtracting expenses such as marketing, cost of goods sold, administration and general operating costs from revenue. Notes: Tax and interest expenses are not subtracted - operating earnings are synonymous with EBIT (earnings before for the third quarter of fiscal 1999 were $27.2 million compared to $25.6 million in the prior year and for the nine-month period were $91.8 million compared to $96.8 million in the prior year. The Company reported a net loss of $13.9 million in the third quarter of fiscal 1999 compared to a net loss of $14.3 million in the prior year and for the nine-month period a net loss of $29.2 million compared to a net loss of $23.9 million in the prior year. Operating earnings and the net loss for the nine-month period of fiscal 1998 include a $5.1 million gain on the sale of certain real estate. Pathmark Stores, Inc. is a regional supermarket company currently operating 135 supermarkets primarily in the New York-New Jersey and Philadelphia metropolitan areas. As previously announced, Royal Ahold a·hold n. Hold; grip: "I knew I could make it all right if I got . . . back to the hotel and got ahold of that bottle of brandy" Jimmy Breslin. , the international food retailer, will acquire the parent company of Pathmark, subject to the completion of a number of conditions.
PATHMARK STORES, INC.
(Dollars in Millions)
13 weeks Ended 39 weeks Ended
10/30/99 10/31/98 10/30/99 10/31/98
Sales $924.8 $900.0 $2,742.0 $2,738.9
Operating earnings $ 27.2 $ 25.6 $ 91.8 $ 96.8(a)
Interest expense (41.1) (39.8) (121.0) (120.6)
Loss before taxes ( 13.9) (14.2) (29.2) (23.8)(a)
Income tax
provision (b) -- (0.1) -- (0.1)
Net loss $ (13.9) $(14.3) $ (29.2) $ (23.9)(a)
Operating
cash flow (c) $ 47.8 $ 46.5 $ 151.1 $ 154.4
Operating cash
flow (% to sales) 5.2% 5.2% 5.5% 5.6%
Memo: LIFO charge $ 0.4 $ 0.4 $ 1.2 $ 1.1
(a) Includes a $5.1 million pretax pre·tax adj. Existing before tax deductions: pretax income. pretax adj [profit] → vor (Abzug der) Steuern gain on the sale of certain real estate. (b) The Company has recorded a valuation allowance related to the income tax benefit for the 13 and 39 weeks ended 10/30/99 and 10/31/98; therefore, no income tax benefit has been recognized. (c) Operating cash flow represents earnings from operations before interest, income taxes, depreciation, amortization, the gain on sale of real estate and the LIFO (Last In-First Out) A queueing method in which the next item to be retrieved is the item most recently placed in the queue. Contrast with FIFO. LIFO - stack charge. |
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