Susser Holdings Corp. posted a second-quarter loss on debt-refinancing impacts but also reported stronger merchandise and fuel sales. Its same-store merchandise sales for the second quarter of 2010 increased by 3.1%, compared with growth of 2.5% in the first quarter of 2010 and 4.6% in the second quarter of 2009. Retail merchandise margin increased to…
Delek US Reports Q2 Results
Delek US Holdings Inc. has announced its financial results for the second quarter of 2010. For the three months ended June 30, 2010, Delek US reported net income from continuing operations of $15.0 million ($0.28 per diluted share) compared to $29.6 million ($0.54 per diluted share) in the second quarter 2009. Excluding special items, the…
Sunoco Reports Q2 Results
Sunoco Inc. reported its 2010 second quarter results today, including a net income attributable to Sunoco shareholders of $145 million ($1.20 per share diluted) compared to a net loss attributable to Sunoco shareholders of $55 million ($.47 per share diluted) for the second quarter of 2009. “While market conditions during the second quarter remained challenging,…
Rite Aid Reports Sales Dip for July
Drug store chain Rite Aid Corp. has announced that for the four weeks ended July 24, 2010, same store sales decreased 1.1% over the prior-year period. Its July front-end same stores sales decreased 0.5%, while total drugstore sales for the four-week period decreased 2.2% to $1.886 billion, compared to $1.929 billion for the same period…
Hess Estimates Second Quarter Results
Hess Corp. has reported its estimated results for the second quarter of 2010, including a net income of $375 million compared with net income of $100 million for the second quarter of 2009. Exploration and production earnings totaled $488 million in the second quarter of 2010 compared with $215 million in the second quarter of 2009.…
Radiant and epay Join Forces
epay, a division of Euronet Worldwide Inc. and a prepaid and payments processor in the U.S., is integrating with Radiant Systems to offer its prepaid and payments program through the Radiant Point of Sale for Petroleum and Convenience Retail. The Spinx Co. headquartered in Greenville, S.C., was the first retailer to transact on this newly…
President Signs Swipe Fee Reform Into Law
Interchange relief became a reality today as President Obama signed the financial services reform bill into law. The new law contains Senator Richard Durbin’s swipe fee amendment, which is expected to result in lesser debit card interchange fees and bring critical financial relief to retailers and consumers while promoting greater competition within the credit card…
Couche-Tard Boosts Casey’s Bid
Alimentation Couche-Tard Inc. has increased its offer for Casey’s General Stores Inc. to $36.75 per share in an effort to persuade shareholders to back its takeover. The revised transaction has a total enterprise value of approximately $1.9 billion on a fully diluted basis, including net debt of Casey’s of approximately $28 million. Couche-Tard’s original offer was $36,…
Senate Passes Financial Reform
The convenience and petroleum retailing industry are now celebrating the end of a nearly 10-year battle to rein in interchange fees. Yesterday, July 15, the U.S. Senate voted 60 to 39 in support of the financial reform package known as the Dodd-Frank Bill that contains the crucial interchange amendment, NACS reported. Thursday’s vote was the…
Couche-Tard Extends Offer for Casey’s
Casey’s General Stores still has more time to consider Alimentation Couche-Tard Inc.’s tender offer to acquire all of the outstanding shares of common stock of Casey’s General Stores Inc. for $36.00 per share in cash. The offer, which previously had been scheduled to expire at midnight EST on July 9, has been extended by Couche-Tard,…