New Jersey-based supermarket chain Pathmark Stores has warned that its sales and earnings for the 2002 financial year will be lower than previous estimates due to economic conditions.

Pathmark is expecting third quarter earnings before interest, tax, depreciation and amortisation of US$37-39m and diluted earnings per share of between 1 cent profit and 3 cents loss. Analysts are reported to have been expecting a profit of 12 cents a share.

For the full year ending 1 February 2003, Pathmark is now expecting EBITDA of $175-180m, and diluted earnings per share of 42 cents to 52 cents profit. First Call currently has its estimate at 68 cents per share profit, reported Reuters.