The Pantry's stock dropped more than 10 percent early Tuesday after the Cary convenient store chain's second quarter earnings missed Wall Street estimates.
Excluding the impact of impairment charges and the loss on extinguished debt, The Pantry's net loss for the quarter was $6.3 million, or 28 cents per share.
The consensus among Wall Street analysts who cover the company was a loss of 21 cents per share.
The Pantry saw s 4.6 percent decline in same-store traffic compared to the second quarter last year.
On a conference call with analysts Tuesday, CEO Dennis Hatchell attributed the decline to colder temperatures in its markets, particularly in March.
Hatchell also said the company was hurt by economic uncertainties and a lack of consumer confidence, as well as the higher payroll taxes that took hold at the beginning of the year.
The Pantry has 1,567 stores throughout the Southeast, primarily under the Kangaroo Express brand.