Susser Holdings Expects to Report Same-Store Merchandise, Fuel Volume Growth
Susser Petroleum Partners LP will report results for six days ended September 30
Published in CSP Daily News
CORPUS CHRISTI, Texas -- For its third-quarter 2012 ended September 30, Susser Holdings Corp. said that it expects to report same-store merchandise sales growth of approximately 5.8% year-over-year, compared to growth of 7.4% for the year-earlier period.
It also said that it expects to report retail average per-store fuel volume growth of approximately 6.6% year-over-year, compared to growth of 5.6% for the prior-year period.
Year-to-date, the company said that it expects to report same-store merchandise sales growth of approximately 6.8% year-over-year, compared to growth of 6.3% for the year-earlier period, and retail average per-store fuel volume growth of approximately 6.8% year-over-year, compared to growth of 4.1% for the prior-year period.
Susser Holdings opened eight new large-format Stripes convenience stores during the third quarter for a total of 15 new stores opened year-to-date. One retail store was converted to a dealer consignment location during the third quarter, bringing the total retail stores to 552 as of September 30. Two additional Stripes stores were converted to consignment locations at the beginning of the fourth quarter.
It also said that 14 stores are under construction, of which 11 are currently expected to open during the fourth quarter. The company said that it expects to build 28 to 35 retail sites in 2013, and it continues to acquire additional properties for its land bank for future development.
Additionally, it added 11 new dealer sites in the wholesale segment, including the one converted from the retail segment, and it discontinued seven sites for a total of 571 contracted branded sites at the end of the third quarter, the company said. At quarter-end, the contracted dealer sites consisted of 88 consignment locations and 483 dealer supply contracts. For the nine months, Susser has added 25 contracted dealer sites and discontinued 19.
Susser Petroleum Partners LP, a master limited partnership that completed its initial public offering (IPO) last month, began operations on September 25. It will report results for the quarter for the six-day period ended September 30.
Susser Holdings and Susser Petroleum Partners will release their complete third-quarter 2012 financial and operating results before the market opens on November 7.
Susser Holdings is a third-generation, family-led business based in Corpus Christi, Texas, that operates approximately 550 c-stores in Texas, New Mexico and Oklahoma under the Stripes banner. Restaurant service is available in more than 340 of its stores, primarily under the proprietary Laredo Taco Co. brand. Susser Holdings also is majority owner and owns the general partner of Susser Petroleum Partners, which distributes more than 1.4 billion gallons of motor fuel annually to Stripes stores, independently operated consignment locations, c-stores and retail fuel outlets operated by independent operators and other commercial customers in Texas, New Mexico, Oklahoma and Louisiana.