The Pantry Announces Completion of Branded Jobber Contract with BP Products
North America Inc.
CARY, N.C. -- January 11, 2013
The Pantry, Inc. (Nasdaq: PTRY), announced that it has entered into a Branded
Jobber Contract to purchase motor fuel from BP Products North America Inc.
This new contract has a term of seven years and initially relates to 394
convenience store locations.
“We have developed a strong relationship with BP Products North America Inc.
over the last several years and are pleased that we will be continuing that
relationship,” said Dennis Hatchell, President and Chief Executive Officer.
“Our new contract will allow us to continue to provide Kangaroo Express
customers with the high quality products that they need and expect.”
Safe Harbor Statement
Statements made by the Company in this press release relating to future plans,
events, or financial condition or performance are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements can generally be identified by the use of
words such as “expect,” “plan,” “anticipate,” “intend,” “outlook,” “guidance,”
“believes,” “should,” “target,” “goal,” “forecast,” “will,” “may” or words of
similar meaning. Forward-looking statements are likely to address matters such
as the Company’s anticipated sales, expenses, margins, tax rates, capital
expenditures, profits, cash flows, liquidity and debt levels, as well as our
pricing strategies and their anticipated impact and our expectations relating
to the costs and benefits of our merchandising and store remodel initiatives.
These forward-looking statements are based on the Company's current plans and
expectations and involve a number of risks and uncertainties that could cause
actual results and events to vary materially from the results and events
anticipated or implied by such forward-looking statements. Any number of
factors could affect actual results and events, including, without limitation;
the Company's ability to enhance its operating performance through its
in-store initiatives and its store remodel program; fluctuations in domestic
and global petroleum and fuel markets; realizing expected benefits from the
Company's fuel supply agreements; changes in the competitive landscape of the
convenience store industry, including fuel stations and other non-traditional
retailers located in the Company's markets; the effect of national and
regional economic conditions on the convenience store industry and the
Company's markets; the global financial crisis and uncertainty in global
economic conditions; wholesale cost increases of, and tax increases on,
tobacco products; the effect of regional weather conditions and climate change
on customer traffic and spending; legal, technological, political and
scientific developments regarding climate change; financial difficulties of
suppliers, including the Company's principal suppliers of fuel and
merchandise, and their ability to continue to supply its stores; the Company's
financial leverage and debt covenants; a disruption of our IT systems or a
failure to protect sensitive customer, employee or vendor data; the ability of
the Company to take advantage of expected synergies in connection with
acquisitions; the actual operating results of new or acquired stores; the
ability of the Company to divest non-core assets; environmental risks
associated with selling petroleum products; and governmental laws and
regulations, including those relating to the environment and the impact of
mandated health care laws. These and other risk factors are discussed in the
Company's Annual Report on Form 10-K and in its other filings with the
Securities and Exchange Commission. In addition, the forward-looking
statements included in this press release are based on the Company's estimates
and plans as of January 11, 2013. While the Company may elect to update these
forward-looking statements at some point in the future, it specifically
disclaims any obligation to do so.
About The Pantry
Headquartered in Cary, North Carolina, The Pantry, Inc. is a leading
independently operated convenience store chain in the southeastern United
States and one of the largest independently operated convenience store chains
in the country. The Company operates 1,572 stores in thirteen states under
select banners, including Kangaroo Express®, its primary operating banner. The
Pantry's stores offer a broad selection of merchandise, as well as gasoline
and other ancillary services designed to appeal to the convenience needs of
The Pantry, Inc.
Berry Epley, 919-774-6700
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