A convenience store operator in the southeastern United States. The company's stores market a broad selection of merchandise, gasoline and ancillary products and services designed to appeal to the convenience needs of their customers.
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Fuel prices are down, which reduces store overhead. Fuel is basically a break-even item for most convenience stores intended to get customers in the store to buy other items. The small amount of markup they have on fuel (if they have a markup at all) doesn't increase even when fuel prices rise.But convenience stores have a higher markup on their non-fuel products than most grocery or retail stores have - they get that kind of pricing power in exchange for the location-based convenience of their stores. And The Pantry is growing through acquisitions - they seem to have bought half the convenience stores in Georgia and Tennessee in the last five years. (Everything now is Kangaroo, which is The Pantry's primary brand.) That increasing scale will give them more pricing power.1500+ stores across 11 states and growing. One of the hungriest fish in a fragmented (but quickly consolidating) market. Low P/E. Stock near 52-week low. They're repurchasing shares. Quickly becoming the 24-hour Wal-Mart of convenience stores. If they paid a dividend it would arguably be one of the best stocks out there right now.
Fuel is basically a break-even item. Depends how you look at it. One can say that the profit from the stores covers all other costs, and any profit after that comes from the gas. Gas unprofitable PTRY a dog, gas up, PTRY an angel.