Susser Seeing Swell Same-Store Sales
Retailer also experiencing fuel volume growth, says third-quarter 2013 operations update
Published in CSP Daily News
CORPUS CHRISTI, Texas -- Susser Holdings Corp. expects to report that same-store merchandise sales growth of approximately 3.4% for the third quarter and 3.3% for the first nine months of 2013. Susser Holdings and Susser Petroleum Partners LP have provided partial operating results for the third quarter and first nine months of 2013.
Retail average per-store fuel volume growth of approximately 5.6% for the third quarter and 5.1% for the first nine months of 2013.
Susser Petroleum Partners expects to report total gallon growth between 8% to 9% for the third quarter and 6% to 6.5% for the first nine months of 2013.
Susser Holdings opened 10 new large-format Stripes convenience stores during the third quarter and closed one smaller store. Through the first nine months of 2013, the company has opened a total of 20 new stores and closed three. Susser currently operates a total of 576 Stripes stores, of which 371 include a restaurant.
Susser Holdings and Susser Petroleum Partners completed sale-leaseback transactions for 10 new Stripes stores during the third quarter at a total cost of $39.5 million, bringing to 30 the total number of new-build store sale leasebacks since the partnership's initial public offering, at a cumulative cost, including final cost true-ups, of $121.0 million.
The company added nine new contracted sites in the wholesale segment in the third quarter, and discontinued five sites, for a total of 587 contracted branded sites as of September 29, consisting of 97 consignment locations and 490 other independent branded dealer contracts. Year to date, the company has added 24 new contracted sites to the wholesale segment and discontinued 16.
Susser Holdings and Susser Petroleum Partners will release their third-quarter financial and operating results on Nov. 6.
Susser Holdings is a third-generation family led business based in Corpus Christi, Texas, that operates c-stores in Texas, New Mexico and Oklahoma under the Stripes banner. It offers restaurant service in approximately 370 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 LP, which distributes more than 1.5 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.