The Pantry ( PTRY), which operates convenience stores and gas stations predominantly in the Southeast U.S., took a 38% nosedive in 2011. The company's CEO Terrance Marks resigned in August after just two years at the company to head up Hooters. He was replaced on an interim basis by Chairman Edwin Holman. The Pantry has been grappling with higher gas prices and a slowdown in consumer spending. For the full-year, the company lowered the upper end of its merchandise gross margins and merchandise sales. The company competes with Couche-Tard's portfolio of stores, including Seven Eleven.