Pantry Surges in 4Q, Year

Sanford, N.C., The Pantry Inc. more than doubled its net income to $25.4 million in its fourth quarter ended Sept. 29, up from $12.6 million the year before. Revenues for the quarter grew 33% to $1.4 billion on same-store merchandise sales growth of 4.7%. For the full fiscal year, the c-store chain reported net income of $57.8 million, up from $15.7 million the previous year. Net sales for the year grew 26.8% to $4.4 billion, supported by same-store merchandise sales growth of 5.3%.