Susser Provides Fourth Quarter Results

Analyst day set for March 21 in Houston.

Susser Holdings Corp. and Susser Petroleum Partners LP have provided partial operating results for the fourth quarter and full year 2012.

For the fourth quarter of 2012, Susser Holdings expects to report:

• Same-store merchandise sales growth of approximately 5.8%, compared to growth of 5% for the year-earlier period.

• Retail average per-store fuel volume growth of approximately 3.1%, compared to growth of 7.2% for the prior-year period.

For the full year 2012, the Company expects to report:

• Same-store merchandise sales growth of approximately 6.6%, compared to growth of 6% in fiscal 2011.

• Retail average per-store fuel volume growth of approximately 5.8%, compared to growth of 4.9% for the prior year.

New Locations Update
Susser Holdings opened a record 10 new Stripes convenience stores during the fourth quarter, for a total of 25 new retail stores opened in 2012.  In addition, the company converted two retail stores to dealer locations in the fourth quarter—for a total of three converted for the full year—and closed one smaller store, or a total of four closures during the full year.  The company operated 559 Stripes stores at year-end, a net increase of 18 stores added in 2012. The Company expects to build 29 to 35 new Stripes convenience stores in 2013, of which 12 are currently under construction.

Thirteen new dealer sites were added in the wholesale segment in the fourth quarter, for a total of 39 for the full year, and six sites were discontinued in the final quarter, or 25 for the full year.  At year end 2012, the Company supplied 579 contracted branded sites, a net increase of 14 for the year.   As of year end, the contracted sites consisted of 91 consignment locations and 488 other independent dealer contracts.

Financing Update
Susser Petroleum Partners purchased two additional Stripes stores from Susser Holdings on Jan. 14.  Since Susser Petroleum Partners began operating as an independent master limited partnership in September 2012, the partnership has acquired a total of 10 new stores, pursuant to a sale leaseback option from Stripes, for a total cost of $36.7 million.  The Partnership has also acquired two additional dealer sites from unaffiliated third parties.  The Partnership expects to complete the acquisition of five additional Stripes stores by April 2013.     

Analyst Day March 21
Susser Holdings Corp. and Susser Petroleum Partners LP will hold a joint Analyst Day on Thursday, March 21, at Susser Petroleum Partners’ headquarters in Houston.  The meeting will begin with a bus tour of several Houston-area Stripes convenience stores and wholesale dealer sites, and will conclude with presentations by senior management of both companies. Additional details will be provided at a later date. For more information on this upcoming meeting or to register, contact Anne Pearson, apearson@drg-l.com, (210) 408-6321.

 

 

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