The results were helped by lower fuel costs as well as higher income tax benefit. Total revenues of the company decreased to $2.022bn from $2.091bn a year ago.
The Pantry recorded net income of $1m, compared with net loss of $4.8m a year earlier. The cost of fuel-related goods sold declined to $1.498bn from $1.577m a year earlier.
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Comparable store merchandise revenue increased 2%. Merchandise gross margin was 34.3% compared to 34.6% in the prior year quarter.
Excluding certain items, the profit of the company was $1.4m, compared with a loss of $2m a year ago.
For the three months to September, adjusted EBITDA declined to $49m from $52.8m a year earlier.
See Also:
The Pantry operates convenience stores in the US. The product portfolio includes food and non-food items such as cigarettes, beer and wine, confectionery, dairy products, fast food, groceries, newspapers and magazines, packed beverages, snacks and tobacco.
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By GlobalDataAs of February 2013, the company operated 1,571 stores in 13 states of the US, under the banner Kangaroo Express.
