Choose a blog

The Pantry reports net loss in fourth quarter

The Pantry swung to a net loss in the fourth quarter.

Excluding the impact of impairment charges and loss on extinguished debt, the Cary company reported Tuesday a net loss of $2 million, or 9 cents per share, compared with earnings per share of 37 cents during the fourth quarter of 2011.

The consensus among Wall Street analysts who cover the company was earnings per share of 1 cent.

Comparable store merchandise sales at those stores increased 3.3 percent. Gasoline revenues fell. Fuel gross profit was $44 million in the quarter, compared with $64.4 million a year ago.

For the year, the company reported a net loss of $2.5 million, or 11 cents per share, compared to net income of $9.8 million, or 44 cents per share, in 2011.

The Pantry has more than 1,500 stores throughout the Southeast, primarily under the Kangaroo Express brand.

Three winners in the Kangaroo coffee cup giveaway

Three readers have won refillable coffee cups for Kangaroo Express.

The cups are good for 99-cent refills on extra-large cups of Kangaroo's Bean Street coffee.

And your coffee will be free during Kangaroo Express free refill days.

Just be sure to sign up for Kangaroo's text club by texting ROOCLUB to 843766. That way, you'll receive messages on free coffee days.

And the winners are:

Reminder: Enter to win one of three refillable Kangaroo Express coffee mugs

                         

I've got three refillable coffee cups from Kangaroo Express to give away to three lucky readers.

The cups entitle you to 99-cent refills on an extra-large cup of Kangaroo's Bean Street coffee.

And your coffee will be free during Kangaroo Express free refill days.

Sign up for Kangaroo's text club by texting ROOCLUB to 843766 and you'll receive messages on free coffee days.

Leave me a comment or question and you'll be entered to win one of the three cups. The giveaway ends at noon on Wednesday, Oct. 17. I'll choose the winners using random.org and announce them here on the blog.

I've got an additional two refillable mugs that I'll be giving away during my next half-day coupon workshop, which will be at the Ronald McDonald House of Durham on Saturday, Nov. 3. You can sign up for the workshop on The N&O ZONE.

Coffee for a penny at Kangaroo Express on Sept. 29

Kangaroo Express convenience stores will be celebrating National Coffee day with penny coffee for customers.

Fill a 12 oz. cup for 1 cent between 8 a.m. and noon Saturday, Sept. 29, at any Kangaroo Express. One per customer.

If you're lucky you might even score a free cup.

Pantry adds vending machines to gas islands

The Pantry has added vending machines that let you buy cold, bottled drinks next to the pump to four of its Kangaroo Express stores in the Triangle.

The Cary convenience store chain is working with another Cary company, Vendgogh, on the pilot project. Customers can add the beverage to their gas order and pay for it all with one wipe at the pump.

The stores participating are at:

3301 Guess Road Durham,

3721 Tryon Road Raleigh

3289 Avent Ferry Road Raleigh

2105 Ten Ten Road Apex

“This is another option we are testing to serve our on-the-go guests,” John Fisher, senior vice president of marketing, merchandising and restaurant operations at The Pantry, said in a statement. Customers can add the beverage to their gas order and pay for it all with one wipe at the pump.

Three Wilco Hess stations – one in on U.S. 70 in Garner and two on Capital Boulevard – also have the Vendgogh machines.
 

Kangaroo Express extends 25-cent drink refills through Sept. 30

                                           

Good news for owners of Kangaroo Express Roo Cups.

The summerlong promotion that allows folks to refill their cups with soda or slushies for 25 cents has been extended.

The deal is now good through Sept. 30.

Pantry 3Q earnings beat Wall Street estimates

The Pantry shares rose 3 percent on Tuesday as the Cary convenience store chain reported third-quarter earnings that beat Wall Street estimates.

The company reported net income of $14.8 million, or 65 cents per share, compared with $19 million, or 84 cents per share during the third quarter of 2011. The consensus among Wall Street analysts who cover the company was earnings per share of 57 cents.

The Pantry has more than 1,500 stores throughout the Southeast, primarily under the Kangaroo Express brand.

Comparable store merchandise sales at those stores increased 3.6 percent. Gasoline revenues continue to lag. Fuel gross profit was $67.1 million in the quarter, compared with $80.1 million a year ago.

The Pantry has sold 57 stores this fiscal year, and CEO Dennis Hatchell said on a conference call with analysts that the company would continue to divest itself of stores that don’t fit its criteria for future investment. The Pantry ended the quarter with 1,592 stores, and expects to have about 1,575 by the end of the year.

“While pleased with these results, we are focused on improving them over time by implementing our strategic initiatives, such as our store remodel, foodservice and lifestyle merchandising programs,” Hatchell said in a statement.

The Pantry’s stock closed up 38 cents at $14.97 on Tuesday. The shares are up 25 percent this year.

The Pantry releases preliminary 3Q results

The Pantry released preliminary third quarter financial results Wednesday that were slightly above the company's own guidance for the quarter.

Comparable store merchandise sales were up 3.6 percent while total merchandise sales were $476 million. The Cary convenience store chain expects income from operations of between $40 million and $45 million.

The Pantry has more than 1,600 stores throughout the Southeast, primarily under the Kangaroo Express brand.

The company reported a wider net loss in the second quarter as the convenience store chain was hurt by higher gasoline prices.

Last week, The Pantry said that it is was seeking to refinance more than $700 million in debt.

The Pantry shares opened trading Wednesday at $15.29. The stock is up 28 percent this year. 

Kangaroo Cup refill FREE on Fourth of July

If you invested in a Kangaroo Cup this summer for unlimited 25-cent sodas and slushies, be sure to stop in on Wednesday.

You can refill your "Roo Cup" for FREE on the Fourth of July.

The Pantry's CFO resigns

The Pantry announced Friday that its chief financial officer, Mark Bierley, is resigning effective May 25.

Bierley has accepted a position near his home in Michigan, the company said. The position wasn't disclosed.

Berry Epley, the company's corporate controller, will handle Bierley's responsibilities while The Pantry searches for a permanent replacement.

In February, the Cary-based convenience store chain named Dennis G. Hatchell as its new president and CEO. He began his job on March 5.

Hatchell replaced Terrance Marks, who resigned in October to become the CEO of the Hooters restaurant chain.

Hatchell was previously vice chairman of Alex Lee, a North Carolina-based holding company for Lowe's Food Stores, Merchants Distributors and Institution Food House.

The Pantry has more than 1,600 stores throughout the Southeast, primarily under the Kangaroo Express brand.

Cars View All
Find a Car
Go
Jobs View All
Find a Job
Go
Homes View All
Find a Home
Go

Want to post a comment?

In order to join the conversation, you must be a member of newsobserver.com. Click here to register or to log in.
Advertisements