Brian L. Milne, Refined Fuels Editor, Telvent DTN Retail gasoline prices in California gained during the Thanksgiving Day holiday weekend, and are poised to move higher after wholesale prices in the state’s fuel market moved up sharply on aggressive buying. The increase in the Golden State’s gasoline prices halts a trend for decreasing values [...]
Kum & Go was among 14 central Iowa companies and organizations that increased its yearly contributions to the United Way campaign this year-collectively the companies increased donations 10% compared to last year, the Des Moines Register reported. Pacesetter organizations, such as Kum & Go, conduct early campaigns and pledge to increase their United [...]
Alimentation Couche-Tard Inc. has signed an agreement through one of its subsidiaries to acquire 16 fuel terminals in Phoenix from BP West Coast Products LLC. “The Phoenix Terminal is an excellent asset with outstanding employees who manage a very high quality operation. Strategically, this acquisition will add efficiencies in our fuel supply chain [...]
MetroSplash Systems Group Inc., a leader in fuel-based loyalty solutions, has appointed Patrick Cummiskey as its new chairman of the board and CEO. A MetroSplash board member since November 2008, Cummiskey is well-known in the industry and has expertise in transaction processing for the supermarket, convenience store and petroleum markets. “MetroSplash is [...]
Robert K. Futterman & Associates LLC (RKF), an independent real estate firm specializing in retail leasing, investment sales and consulting services, has been retained as the exclusive retail leasing representative in Manhattan for 7 Eleven Inc. 7-Eleven, the world leader in convenience retailing, is expanding its presence in the New York metro area [...]
Philip Morris, the biggest maker of tobacco cigarettes in the U.S., reportedly is in talks with Ruyan Group, which manufactured the original electronic cigarette in 2005, OfficalWire reported yesterday. Now that the FDA has the authority to regulate the tobacco industry, Philip Morris could be looking to gain controlling interest over the products [...]
Valero Energy Corporation plans to permanently shut down its Delaware City refinery due to financial losses caused by very poor economic conditions, significant capital spending requirements and high operating costs. The shutdown will affect about 550 employees at the plant. Valero notified refinery employees of the impending shutdown on Nov. 20, and has [...]
Moody’s Investors Service increased its ratings outlook on 7-Eleven Inc. to positive, noting the c-store chain has seen improved results despite the recession, The Wall Street Journal reported. 7-Eleven, which has some 6,200 stores in the U.S. and Canada and is owned by Seven-Eleven Japan Co., reports an annual revenue of about $17 [...]
Alimentation Couche-Tard released its second quarter results, reporting net earnings of $88.2 million, down $9.4 million or 9.6%. The drop was a result of a 9.10 cents per gallon decrease in motor fuel gross margins in the U.S., which had an estimated impact of more than $65 million before income taxes. During [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Retail gasoline prices are moving higher across most of the country as Americans finalize travel plans for the Thanksgiving holiday. AAA expects a 2.1% increase in automobile travel of 50 miles or more from home with this year’s holiday compared with 2008, projecting 33.2 million [...]
Hot Stuff Foods has rolled out new Hot Stuffed Stix, a mozzarella-stuffed breadstick dusted with a light parmesan cheese coating, to complement Hot Stuff Foods’ multi-day-part foodservice initiative and commitment to providing busy consumers with quality on-the-go items. “Our Hot Stuffed Stix is the perfect product addition for our franchise partners who are [...]
The American Consumer Institute (ACI) has released a ConsumerGram detailing the negative effects that high credit card fees (interchange fees) have on families across the country, MarketWatch reported. The report comes shortly before one of the biggest shopping days of the year. “Holiday season is right around the corner. As many American [...]
Casey’s General Stores Inc. has entered into agreements to purchase nine convenience stores in Missouri owned by PICS Marketing Inc. and Ridgerunner Properties LLC. The stores are currently operated by Cox Oil Company Inc. under the Bullseye banner, and will be immediately rebranded to Casey’s. Cox Oil will continue to operate nine other [...]
Tom Gerrity, who has led 7-Eleven Inc.’s foray into private-label packaged food while supervising the grocery category, will now focus his merchandising efforts solely on the company’s growing 7-Select line of products. As the new senior product director for private label products, Gerrity will oversee product development across all categories in the store. [...]
Love’s Travel Stops & Country Stores has made Forbes magazine’s list of America’s largest private companies for the 10th consecutive year. This year Love’s was listed as No. 15, a jump from No. 25 last year. The rankings are based on 2008 revenues. “We’re proud to be an Oklahoma company that has [...]