Pantry 3Q Profit Slips

Sanford, N.C., The Pantry Inc. said Thursday fiscal third-quarter net income fell 38% as operating costs rose. Profit for the quarter ended June 28 fell to $12.6 million from $20.3 million in the year-ago period. Results include a charge of 6? per share for deferred financing costs in connection with refinancing its credit facilities.

Revenue rose 25% to $2.05 billion from $1.65 billion last year. Same-store merchandise sales rose 1.9% during the quarter, while same-store gasoline sales rose 1.0%.