US c-store retailer The Pantry has seen its net losses widen in its first quarter.

In the three months ended 27 December, the company made a net loss of US$3.1m compared to a net loss of $2.9m last year, it reported today (5 February). Excluding the impact of impairment charges, net loss improved to $1.7m.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

However, operating profit was up 13.2% to $18m. The company said the improvement in operating profit was down to “improving merchandise sales and margins and controlling expenses”.

Net sales dropped to $1.91bn from $1.96bn last year. Comparable-store merchandise sales, which excludes cigarettes, increased 2.2%.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now