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Website: http://www.pathmark.com Pathmark operates 142 supermarkets in four states - New Jersey, New York, Pennsylvania and Delaware - serving the NY/NJ and Philadelphia metro areas. The company has stores that are located in both urban and suburban marketplaces, and is particularly noted for its historical commitment to opening stores within the inner-cities of the region. Pathmark supermarkets are large (average 53,000 sq. ft.) and productive ($738 per selling sq. ft.), relative to the market and national average. All stores are within a 100-mile range of the company's headquarters in Carteret, NJ. Pathmark has 65 stores in New Jersey, 55 in New York, 18 in Pennsylvania and 4 in Delaware. Sales for fiscal 2004 were $3.9 billion, down 0.3% from the previous year. The company lost $269.3 million. In March, Pathmark announced a $150 million investment from Yucaipa Companies, a private investment firm. The funds will be used to upgrade stores and open new ones. History The name Pathmark was established in 1968 by its founding fathers, Herb Brody, Milton Perlmutter and Alex Aidekman. This new company would provide a "path" for easy, one-stop shopping, and be the "mark" of one of the most successful supermarket retailers in the United States. The company was a pioneer in the "super center" concept, which combined traditional grocery and perishable items with expanded offerings on non-foods, including small appliances. Pathmark was the first supermarket company in the Northeast to operate its stores 24 hours each day, 7 days a week. Also, the company was among the first in the Northeast to utilize scanning registers at the checkout. In 1987, the company executed a management led, leveraged buyout with Merrill Lynch Capital Partners as the primary source of funding to avert a hostile takeover by the Dart Group. In July 2000, Pathmark filed a petition for relief under Chapter 11 of the Bankruptcy Code, and emerged as a publicly traded company in September of the same year. Updated June 1, 2005 |