DEPOT FOOD STORES
OWNER: The Pantry Inc. of Sanford, N.C.
PRODUCT: Gas, convenience store items
LOCATION: 26 stores in Augusta-Aiken area
LOCAL EMPLOYEES: Undisclosed. The Pantry employs 8,100 people and owns 1,300 convenience stores nationwide.
2001 SALES: $2.6 billion
HISTORY: The Pantry was founded in 1967. It has grown through acquisition throughout the years and it currently operates 20 store brands, including The Pantry, Handy Way, Big K, Quick Stop and Kangaroo. The company acquired the 53-store Depot chain from Aiken-based R&H Maxxon in 1999 for an estimated $60 million. About half of the Depot stores are in the Augusta-Aiken area.
RECENT NEWS: Last month the Pantry said it inadvertently overstated its accounts payable in the March and December quarters by $8 million in each quarter. The company's stock hit a 52-week low on Aug. 20, finishing trading at $2.01 per share.
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Chief executive Dennis Kozlowski of Tyco and star analyst Jack Grubman of Salomon Smith Barney may have raised eyebrows with their $30 million severance packages. But such lucrative partings are common for CEOs and other business bigwigs.
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"It's a reflection of American culture," said Paul Pacholski, of Maritz's Telecom Research Group. "We're a fast-paced society and people apparently don't want to take the time to explore and learn about the many features available with their plan."
Age was found to be a strong indicator of a person's knowledge of mobile phone features. Eighty-five percent of those between the ages of 18 and 24 knew how to use their mobile phone's features, compared to 71 percent of those between the ages of 25 and 34. From 35-44 it was just 50 percent, and only 45 percent of people 45-years-old and up knew.
Contact Business Editor Damon Cline at (706) 823-3486 or firstname.lastname@example.org.
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