US c-store operator The Pantry has reported lower third-quarter profits as an impairment charge and lower fuel sales weighed on earnings.

In the three months ended 28 June, earnings dropped to US$14.8m from $19m in the comparable period last year.

Excluding impairment charges as well as loss on extinguishment of debt, the company reported adjusted net income for the third quarter of $15.9m versus $21m a year ago.

EBITDA also dropped, to $74.7m from $84.7m a year ago. Fuel gross profit decreased 16.3% in the quarter.

Sales in the period slid to $2.14bn from $2.26bn last year. Comparable-store merchandise sales, however, increased 3.6% in total and 5.7% excluding cigarettes.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData