USA: Pathmark reports 44% drop in quarterly earnings
US retailer Pathmark yesterday [Wednesday] reported a 44% drop in profits for the first quarter, and warned that earnings would remain low in the current quarter. Pathmark, whose 143 supermarkets are primarily in New York, New Jersey and the Philadelphia area, said net income for the three months ended 4 May was US$2.8m, or 9 cents per diluted share.
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