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News Releases - 2005
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DateTitle 
12/30/05The Pantry Completes Repricing of Senior Secured Credit Facilities
SANFORD, N.C., Dec 30, 2005 (BUSINESS WIRE) -- The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it has completed a repricing and renegotiation of certain terms of its senior secured credit facilities. The facilities include a term loan with a remaining balance of $205 million, as well as a $150 million revolving credit facility. As previously disclosed, the Company used approximately $100 million of... 
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12/08/05The Pantry to Acquire 19 Stores from Lee-Moore Oil Company
SANFORD, N.C.--(BUSINESS WIRE)--Dec. 8, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it has signed a definitive agreement to acquire 19 convenience stores in North Carolina from Lee-Moore Oil Company, which has been operating the stores under the TruBuy and On-The-Run(R) banners. The stores to be acquired generated total revenue of approximately $66 million in 2004. The acquisition also... 
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12/01/05The Pantry Announces Record Fourth-Quarter and Fiscal 2005 Financial Results; Increases FY 2006 EPS Guidance to $2.80-$2.90
SANFORD, N.C.--(BUSINESS WIRE)--Dec. 1, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced financial results for its fourth fiscal quarter and year ended September 29, 2005. Total revenues for the fourth quarter of fiscal 2005 were approximately $1.4 billion, a 33.0% increase from last year's fourth quarter, which included an extra week of operations. Net income for the quarter was $25.4 mil... 
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11/30/05The Pantry to Acquire 39 Interstate Food Stops in Mississippi and Louisiana
SANFORD, N.C.--(BUSINESS WIRE)--Nov. 30, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it has signed a definitive agreement to acquire 39 convenience stores in Mississippi and Louisiana from Waring Oil Company, LLC., which has been operating the stores under the Interstate Food Stop banner. The stores generated total revenue of approximately $100 million in 2004. Peter J. Sodini, P... 
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11/28/05The Pantry, Inc. Schedules Release of Fourth Quarter and Fiscal Year 2005 Results and Conference Call
SANFORD, N.C.--(BUSINESS WIRE)--Nov. 28, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independent convenience store operator in the southeastern U.S., today announced that it will release financial results for its fourth quarter and fiscal year 2005 before the market opens on December 1, 2005. The Company will host a conference call later that morning at 10:00 a.m. Eastern Time. The conference call will be broadcast live over the Internet and will be accessible at www.thep... 
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11/22/05The Pantry Announces Closing of Convertible Notes Offering
SANFORD, N.C.--(BUSINESS WIRE)--Nov. 22, 2005--The Pantry, Inc. (NASDAQ: PTRY) today announced the closing of its private offering of $150 million of its 3.0% senior subordinated convertible notes due 2012. The Company recently had announced the pricing of $135 million of the notes. In connection with the closing, the initial purchasers exercised their option to acquire an additional $15 million of the notes. The Company used a portion of the net proceeds for the net cost of a ... 
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11/17/05The Pantry Announces Hedge of Convertible Notes Offering Resulting in Approximately 60% Conversion Premium
SANFORD, N.C.--(BUSINESS WIRE)--Nov. 17, 2005--The Pantry, Inc. (NASDAQ: PTRY) today announced that it entered into a seven-year convertible bond hedge and a separate seven-year warrant transaction in connection with the issuance of approximately $135 million of seven-year convertible senior subordinated notes. The convertible note issuance is expected to close November 22, 2005. The impact of the hedge and warrant transactions, purchased with a portion of the proceeds from the ... 
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11/17/05The Pantry Announces Pricing of Convertible Notes Offering
SANFORD, N.C.--(BUSINESS WIRE)--Nov. 17, 2005--The Pantry, Inc. (NASDAQ: PTRY) today announced the pricing of a private offering of $135 million of its convertible senior subordinated notes due 2012 (the "Notes"). This amount is an increase over the $130 million issue price previously announced. The Notes bear interest at 3% per annum. In addition, the Company has granted the initial purchasers a 30-day option to purchase up to $15 million of additional Notes. The issuance of Notes is... 
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11/14/05The Pantry Announces Convertible Notes Offering
SANFORD, N.C.--(BUSINESS WIRE)--Nov. 14, 2005--The Pantry, Inc. (NASDAQ: PTRY) today announced that it intends to offer, subject to market and other conditions, approximately $130 million of seven-year senior subordinated convertible notes (the "Notes") through an offering within the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The Notes will utilize net share settlement, and other terms, including the interest rate, number of... 
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10/28/05Robert F. Bernstock and Edwin J. Holman Appointed to The Pantry, Inc. Board of Directors
SANFORD, N.C.--(BUSINESS WIRE)--Oct. 28, 2005--The Pantry, Inc. (NASDAQ:PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that its Board of Directors has appointed Robert F. Bernstock and Edwin J. Holman to serve as Directors of the Company. Their appointments bring the board's total membership to 10. Mr. Bernstock, 54, is President and Chief Operating Officer of Scotts Miracle-Gro, a $2.3 billion company and the leading ... 
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10/27/05The Pantry Comments on Fiscal 2005 Results; Preliminary Results above Previous Guidance; Discloses Initial Fiscal 2006 EPS Guidance of $2.55-$2.65
SANFORD, N.C.--(BUSINESS WIRE)--Oct. 27, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it expects fiscal 2005 earnings per share to substantially exceed its previous guidance. Based on preliminary, unaudited data, the Company expects to report diluted earnings per share for its fiscal year ended September 29, 2005 in a range between $2.55 and $2.60, including charges of approximate... 
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10/18/05The Pantry Announces Amendment and Extension of Citgo Gasoline Supply Agreement
SANFORD, N.C., Oct 18, 2005 (BUSINESS WIRE) -- -The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it has amended and extended its gasoline supply agreement with Citgo Petroleum Corporation. In 2003, the Company announced an agreement calling for Citgo to supply approximately half of its total gasoline volume for five years. That agreement included both Citgo(R) branded gasoline and private label gasol... 
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10/12/05The Pantry Announces New ExxonMobil Gasoline Branding and Supply Agreement
SANFORD, N.C.--(BUSINESS WIRE)--Oct. 12, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it has executed a new gasoline branding and supply agreement with ExxonMobil Oil Corporation ("ExxonMobil"). The new agreement with ExxonMobil is for a five-year term. While The Pantry's current usage of ExxonMobil products is modest, the agreement gives the Company another major oil company as a... 
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10/05/05The Pantry Announces Support for Hurricane-Affected Personnel and Communities
SANFORD, N.C., Oct. 5, 2005 (PRIMEZONE) -- The Pantry, Inc. (Nasdaq:PTRY), the leading independently operated convenience store chain in the southeastern U.S., today summarized the support it has provided to date to employees and their communities in the areas that were affected by Hurricane Katrina. The total of incremental wages paid, bonuses, matching contributions, and a newly established Hurricane Relief Fund amounts to more than $700,000. "Our objective was to provide the most mea... 
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09/26/05The Pantry Completes Acquisition of 13 Speedmart Convenience Stores
SANFORD, N.C., Sep 26, 2005 (BUSINESS WIRE) -- The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it has completed the acquisition of 13 convenience stores in Alabama from Chatham Oil Company, Inc., which has been operating the stores under the Speedmart Food Stores banner. The acquisition expands The Pantry's presence in Alabama to 38 stores, and is expected to be immediately accretive to the Company's... 
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09/08/05The Pantry Comments on Impact of Hurricane Katrina; Sees Minimal Damage to Store Base, Reaffirms Fiscal 2005 EPS Guidance
SANFORD, N.C.--(BUSINESS WIRE)--Sept. 8, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today provided an update on the impact of Hurricane Katrina on its business. Peter J. Sodini, President and Chief Executive Officer, said, "While the hurricane and its aftermath have been heartbreaking in human terms, its direct financial impact on The Pantry in terms of uninsured property losses or store closings in the... 
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09/06/05The Pantry Schedules Conference Call to Discuss Impact of Hurricane Katrina
SANFORD, N.C., Sept. 6, 2005 (PRIMEZONE) -- The Pantry, Inc. (Nasdaq:PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it will host a conference call at 10:00 a.m. Eastern time on Thursday, September 8, 2005. The purpose of the call will be to provide interested parties with an update on the impact of Hurricane Katrina and related developments in the energy markets on the Company's operations. The conference call will be bro... 
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08/29/05Pantry Recommends Its Customers Restrict Discretionary Driving
SANFORD, N.C.--(BUSINESS WIRE)--Aug. 29, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., releases today the following: The gulf coast of the United States is absorbing one of the worst hurricanes in the history of this country. Unfortunately the majority of gasoline supply for the Southeastern sector emanates from these storm affected states. As a result we recommend that all of our loyal customers do their ... 
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08/19/05The Pantry Completes Acquisition of 23 Sentry Food Mart Convenience Stores
SANFORD, N.C.--(BUSINESS WIRE)--Aug. 19, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., announced that it has completed the acquisition of 23 convenience stores in Virginia from Angus I. Hines, Inc., which has been operating the stores under the Sentry Food Mart banner. The stores generated total revenue of approximately $122 million in 2004. The acquisition expands The Pantry's presence in Virginia to 53 ... 
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08/05/05The Pantry Obtains Amendment to Loan Agreement
SANFORD, N.C.--(BUSINESS WIRE)--Aug. 8, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., announced that it has entered into an amendment with its lenders to the loan agreement under its senior credit facility, effective August 5, 2005. The amendment has the effect of bringing the Company into compliance with the loan agreement after giving effect to the previously announced restatement of financial statements. ... 
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08/02/05The Pantry to Acquire 13 Speedmart Food Stores in Alabama; Will Expand Alabama Presence
SANFORD, N.C.--(BUSINESS WIRE)--Aug. 2, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it has signed a definitive agreement to acquire 13 convenience stores in Alabama from Chatham Oil Company, Inc., which has been operating the stores under the Speedmart Food Stores banner. Peter J. Sodini, President and Chief Executive Officer of The Pantry, said, "We are pleased to announce this acqu... 
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07/28/05The Pantry Announces Record Third-Quarter Financial Results; Restating Financial Statements for Sale-Leaseback Transactions; Raises Low End of Fiscal 2005 EPS Guidance Range, Now Targets $2.10-$2.15
SANFORD, N.C., Jul 28, 2005 (BUSINESS WIRE) -- The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced preliminary financial results for its third fiscal quarter and nine months ended June 30, 2005. Revenues for the third quarter were $1,166.5 million, up 25.7% from $928.3 million in the corresponding period a year ago. Net income was $16.7 million, a 25.9% increase from $13.2 million in last year's third qu... 
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07/22/05The Pantry, Inc. Schedules Release of Third Quarter Results and Conference Call
SANFORD, N.C.--(BUSINESS WIRE)--July 22, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independent convenience store operator in the southeastern U.S., today announced that it will release financial results for its third quarter ended June 30, 2005 before the market opens on July 28, 2005. The Company will host a conference call later that morning at 10:00 a.m. Eastern Time. The conference call will be broadcast live over the Internet and will be accessible at www.thepantry.com... 
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06/16/05The Pantry to Acquire 23 Sentry Food Mart Convenience Stores; Will Add 23 High-Volume Stores in Virginia
SANFORD, N.C.--(BUSINESS WIRE)--June 16, 2005--The Pantry, Inc. (NASDAQ:PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it has signed a definitive agreement to acquire 23 convenience stores in Virginia from Angus I. Hines, Inc., which has been operating the stores under the Sentry Food Mart banner. The 23 stores generated total revenue of approximately $122 million in 2004. Peter J. Sodini, President and Chief Executiv... 
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06/15/05The Pantry Reports Participation in William Blair and Company's 25th Annual Growth Stock Conference on June 22, 2005
SANFORD, N.C.--(BUSINESS WIRE)--June 15, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that executive management has been invited to participate in the William Blair and Company's 25th Annual Growth Stock Conference being held in Chicago on June 22, 2005 at 9:30 A.M. EST. The Company will have a live audio webcast, with a replay available for 30 days. The webcast will be accessible through ... 
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05/13/05The Pantry Completes Acquisition of Three Convenience Stores in Charleston, S.C.
SANFORD, N.C.--(BUSINESS WIRE)--May 13, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it has completed the acquisition of three convenience stores and one development site in Charleston, South Carolina. "We are pleased to complete this tuck-in acquisition in Charleston," said Peter J. Sodini, The Pantry's President and Chief Executive Officer. "These stores will add to our existing pre... 
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04/28/05The Pantry Reports Record Second-Quarter Earnings and Increases Annual EPS Guidance
SANFORD, N.C., Apr 28, 2005 (BUSINESS WIRE) -- The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced financial results for its second fiscal quarter ended March 31, 2005. Revenues for the second quarter totaled $945.8 million, a 20.3% increase from $786.4 million in the corresponding period a year ago. Net income for the quarter was $3.8 million, or $0.18 per diluted share, compared with a net loss on a GA... 
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04/22/05The Pantry Completes Acquisition of 53 Cowboys Convenience Stores
SANFORD, N.C.--(BUSINESS WIRE)--April 22, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it has completed the acquisition of D & D Oil Co., Inc. of Rome, Georgia. D & D operates 53 convenience stores under the Cowboys banner in Alabama (23), Georgia (29) and Mississippi (1), which generated approximately $320 million in revenue in 2004. The purchase price was funded from availab... 
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04/21/05The Pantry, Inc. Schedules Release of Second Quarter Results and Conference Call
SANFORD, N.C.--(BUSINESS WIRE)--April 21, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independent convenience store operator in the southeastern U.S., today announced that it will release financial results for its second quarter ended March 31, 2005 before the market opens on April 28, 2005. The Company will host a conference call later that morning at 10:00 a.m. Eastern Time. The conference call will be broadcast live over the Internet and will be accessible at www.thepantry... 
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04/15/05The Pantry Reports Participation in Goldman Sachs Fifth Annual Small-Cap Retail Conference on April 20, 2005
SANFORD, N.C.--(BUSINESS WIRE)--April 15, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that executive management has been invited to participate in the Goldman Sachs Fifth Annual Small-Cap Retail Conference being held in New York on April 20, 2005 at 1:25 P.M. EDT. This conference is predominantly a moderated Q&A format with no formal presentations, and will have a live audio webcast, ... 
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03/08/05The Pantry Reports Freeman Spogli & Co. Completes Sale of 2.15 Million Shares
SANFORD, N.C.--(BUSINESS WIRE)--March 8, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that investment funds controlled by Freeman Spogli & Co. have sold, in a privately negotiated transaction, the remaining 2.15 million shares of The Pantry common stock they had registered under the Company's existing shelf registration statement. Freeman Spogli continues to own approximately 1.7 million sha... 
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02/28/05The Pantry to Acquire Cowboys Convenience Stores; Will Add 53 High-Volume Stores, With Annual Revenues of $320 Million
SANFORD, N.C.--(BUSINESS WIRE)--Feb. 28, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it has signed a definitive agreement to acquire D & D Oil Co., Inc. of Rome, Georgia, which operates 53 convenience stores under the Cowboys banner. The stores are located in Alabama (23), Georgia (29) and Mississippi (1) offering branded BP(R) (10) and Cowboys (43) gasoline. The acquisition also inclu... 
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01/27/05The Pantry Reports Strong First Quarter Financial Results; Earnings More Than Double a Year Ago
SANFORD, N.C.--(BUSINESS WIRE)--Jan. 27, 2005--The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced financial results for its first fiscal quarter ended December 30, 2004. Total revenues for the quarter were $941.5 million, a 26.5% increase from $744.4 million in the first quarter of fiscal 2004. Net income and diluted earnings per share more than doubled to $12.2 million, or $0.58 per share, from $4.9 ... 
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01/20/05The Pantry, Inc. Schedules Release of First Quarter Results and Conference Call
SANFORD, N.C.--(BUSINESS WIRE)--Jan. 20, 2005--The Pantry, Inc. (Nasdaq: PTRY), the leading independent convenience store operator in the southeastern U.S., today announced that it will release financial results for its first quarter ended December 30, 2004 before the market opens on January 27, 2005. The Company will host a conference call later that morning at 10:00 a.m. Eastern Time. The conference call will be broadcast live over the Internet and will be accessible at www.thepan... 
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