Weak fuel margins have hit third-quarter profits at US c-store chain The Pantry, the company admitted today (4 August).
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The Pantry, which runs over 1,600 stores in 11 US states, booked net income of US$43,000 for the three months to 25 June – compared with $10.7m a year earlier.
EBITDA also fell, reaching $48m against $66.1m a year ago. Turnover, meanwhile, slumped by more than a third, hitting US$1.63bn.
“During the quarter we experienced a weak gas margin due to a sharp rise in wholesale gasoline costs,” said chairman and CEO Peter Sodini.
“Third-quarter results were also affected by the ongoing economic softness in our markets and by higher tobacco excise taxes.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
