US: The Pantry disappointed with FY profits
US c-store retailer The Pantry said profits have not met its expectations for 2012, despite an increase in like-for-like shop sales.
Like-for-like store sales rose by 3.3% for the 12 months to the end of December, up from a growth rate of just 0.2% in 2011, The Pantry said in a note to shareholders yesterday (23 January).
However, lower earnings in the fuels business meant The Pantry's adjusted EBITDA fell by 9% versus 2011, to US$210.1m.
"While we were pleased with our inside comparable store sales growth and the reduction we made in expenses, our fuel gross margin and adjusted EBITDA did not meet our expectations," said the company, which will hold its annual general meeting on 14 March.
- Kellogg uses Kashi to finally join party - comment
- Rabobank's early view on Brexit impact on food
- New food waste standard will help monitor progress
- Tyrrells' growth plans - CEO interview, part two
- How could a TTIP affect the food industry?
- Brexit – Live reaction from food industry
- Kellogg to invest in "next-generation innovation"
- PepsiCo "engaging" with Indofood on child labour
- Campaigners attack UK child obesity plan
- Post, ConAgra 'held talks' over Lamb Weston merger
- Top Trends in Snacks, Confectionery, and Desserts; Exploring consumer and innovation trends in key categories
- Frozen Bakery Products Market by Type, Distribution Channel, & by Region - Global Trends & Forecast to 2020
- Singapore Food and Drink Report Q3 2016
- Fast Food in India
- Country Analysis Report: Saudi Arabia, In-depth PESTLE Insights