The Industry’s ‘Strongest Performers’

Published in CSP Daily News

Research report highlights pros and cons of public c-store chains

LONDON -- In an analysis of the major public convenience-store chains in North America, U.K. research firm Canadean has concluded that Alimentation Couche-Tard, Casey’s General Stores and Susser Holdings are each “strongest performers” in one sense or another, while The Pantry is the most in need of improvement.

The report, titled North American Convenience Stores, Neighborhood Stores and Gas Stations--Company Benchmarking Analysis Report,” compares the strength of the leading convenience stores, neighborhood stores and gas stations in North America relative to each other and international averages for retailers in the same channel.

The retailers covered in the report, of which Canadean provided summary highlights to CSP Daily News, are:

  • Alimentation Couche-Tard Inc.
  • The Pantry Inc.
  • TravelCenters of America LLC
  • Casey's General Stores Inc.
  • Susser Holdings Corp.

Among the goals of the study are to understand the relative competitive strengths and weaknesses of the players covered, provide detailed scorecards and summary "heat charts" to provide clear, concise "at a glance" analysis of the relative performance of the companies, and gain a detailed knowledge of the best-in-class performance levels among the retailers covered.

Some key highlights:  

  • Couche-Tard was the strongest performer of the leading convenience stores, neighborhood stores and gas stations in North America. The company's strong performance was driven by the high scores it received for scale and growth pillar. However, the company's performance was poor under other pillars.
  • Casey's General Stores and Susser Holdings were the strongest performers under the operational efficiency pillar. However, their performance was weaker than the convenience stores, neighborhood stores and gas stations channel under scale and growth pillar.
  • The Pantry was the weakest performer of the leading convenience stores, neighborhood stores and gas stations in North America. The company's poor performance was driven by the weak scores it received for metrics across all the pillars.

Also, the study concluded that the North American convenience stores, neighborhood stores and gas stations market is moderately concentrated and has several independent stores or small store chains in addition to large national store chains. In 2010, the top 10 convenience stores, neighborhood stores and gas stations had a market share of 51.0%.