susser reports first quarter earnings

Busy year brings growth to c-store owner.

Susser Holdings Corp., the Corpus Christi-based convenience store and gasoline distribution giant that operates Stripes stores, reported an 8.8% increase in merchandise sales and an increase in revenue

for the first quarter.

On Wednesday, the company reported a first-quarter net loss of $2.4 million, a 39% improvement from the first quarter of 2006, and merchandise sales increased to $93.4 million, versus $85.8 million a year ago, according to the Corpus Christi Caller-Times.

In the past two years, the company’s finances has been all over the place, being issued $170 million in bond debt, going public and retiring $50 million in debt. The most notable change in the past year was the re-branding of its 325 convenience stores, formerly Circle K’s, now known as Stripes.

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