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The Pantry, Inc (PTRY) plunged 11.9% or $2.40 to $17.75 after the convenience store chain operator reported fourth quarter revenues increased 12% to $1.95 billion from $1.81 billion a year earlier. Comparable store merchandise revenue increased 5.7%. Net income in the quarter was declined to $8.5 million or 38 cents per diluted share compared to $12.5 million or 56 cents per share last year.
For the full year, revenues surged to $7.26 billion from $6.39 billion. Net loss in the period was $165.6 million or $7.42 per diluted share compared to net income of $54.09 million or $2.42 per share the prior year.
What does that say to you about the rest of our industry? http://goo.gl/Sr6YG