Fresh & Easy Neighborhood Market, the U.S. unit of Britain’s biggest grocery retailer, plans to open four stores in the Sacramento area, according to liquor license applications with the state. The Sacramento locations named in the filings include 3311 Northgate Blvd. and 3615 Bradshaw Road. Two Folsom sites, 25000 Blue Ravine Road and 9522 Greenback [...]
The most extraordinary structure is only as strong as it’s weakest link. The same principle applies in business. The higher up the leadership chain that weakness exists the more likely the organization is to crumble. That’s why the companies that are succeeding in the market these days are controlled by innovators that aren’t afraid to [...]
7-Eleven Timeline 7-Eleven Inc. began almost 81 years ago when a Dallas ice dock operator decided to add milk, eggs and bread in response to his customers’ needs. The company’s first expansion outside Texas was into Florida. The retailer entered the franchising arena in 1964 with the acquisition of Speedee Mart, a chain of franchised [...]
“In a business like cigars, where unit volume is growing 10% plus year-over-year, emerging strategic thinking in convenience retail suggests that retailers can grow even faster by employing a “price-for-volume” strategy for key products.” David Bishop, partner, Willard Bishop This summer, we examined how convenience retailers could manage the cigar category differently to realize above-market [...]
Several clients have recently challenged us to try to creatively refinance convenience mortgages tied to properties that were acquired over the last several years. These properties were purchased based upon high cash flow multiples of seven times or more–multiples that have become the norm with many transactions around the country. When considered in light of [...]
Alimentation Couche-Tard Inc., Convenience Store Decisions 2007 Convenience Store Chain of the Year, locked up a $131.4-million sale and leaseback deal with Cole Capital related to 83 properties of Circle K Stores Inc. and Mac’s Convenience Stores throughout the U.S. The Laval, Quebec-based convenience store operator said it would use the proceeds to reduce its [...]
EZ Energy Ltd.’s U.S. subsidiary EZ Energy USA Inc. has signed a letter of intent to sell up to 17 gas stations and convenience stores to a real estate investment trust (REIT) for up to $20.7 million. The properties were previously purchased from BP Products North America Inc. $15.5 million. EZ Energy will lease back [...]
Red Kettles are overflowing for one Pennsylvania chapter of The Salvation Army. Sheetz Inc. said it is donating its former convenience store and property in Chambersburg, Pa., to the Chambersburg Salvation Army, which already occupies an adjacent building. This gift immediately doubles the Corps existing property size and footprint, providing critical office space, the potential [...]
Colbea to acquire 34 Shell-branded stations and wholesale marketing agreements. Motiva Enterprises LLC (Motiva), the company that markets Shell-branded gasoline in the eastern United States, has accepted an offer from Colbea Enterprises LLC (Colbea) to acquire Motiva’s interest in 34 Shell-branded retail sites in the state of Rhode Island. Motiva holds a partial ownership position [...]
C-store chain also announced Ronald Lamb will retire as an executive officer effective April 30. Casey’s General Stores Inc. said second quarter profits increased 62% to $27.7 million from $17.2 million a year ago. Sales for the quarter, which ended Oct. 31, totaled $1.19 billion, up from $1 billion a year ago. Ankeny, Iowa-based Casey’s, [...]
Deal includes 10 stations and increases minority ownership of the fuel brand. Building on its commitment to increase minority opportunities throughout the Shell retail network, Motiva Enterprises LLC said The Lewis Group LLP (TLG) will acquire 10 of its Shell-branded convenience stores in the Houston marketer. “We are proud to be members of the Shell-branded [...]
UK megaretailer looking at dozens of California sites for rapid expansion. Only three weeks after opening its first American stores, near Los Angeles, Tesco is looking at dozens of sites in Northern California as it seeks to extend its Fresh & Easy convenience chain. It is part of the supermarket’s expansion drive in the U.S. [...]
Revenues for fiscal year 2007 were $17.2 billion, up 20% over $14.4 billion a year earlier. CHS Inc., the St. Paul, Minn.-based refiner-marketer, reported record net income for fiscal 2007 of $750.3 million. The earnings for the 12 months ending Aug. 31, 2007, compared with net income of $490.3 million for fiscal 2006. Revenues for [...]
Deal includes eight stores in Florida, Alabama and Texas. Mister Car Wash has acquired the Car Wash Headquarters chain, adding eight stores in Tampa, Fla., Birmingham, Ala., and Mesquite, Texas under its widening umbrella. Financial terms were not disclosed. The company believes the latest acquisition makes Mister Car Wash the second largest carwash chain in [...]
Stripes c-store owner to complete $50 million sale-lease back with National Retail Properties. Christi, Texas-based Susser Holdings, operator of 330 convenience stores in Texas and Oklahoma under the Stripes banner, is in the process of acquiring San Angelo, TX-based Town & Country Food Stores, operator of 140 convenience stores in Central and West Texas and [...]