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.
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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.
