Why Product Assortment Delivers

More than 50% of U.S. consumers told The Nielsen Company they are likely to shop elsewhere if they notice a reduced selection of consumer packaged goods (CPG), while nearly half of retailers indicate continued plans to decrease assortment. So far, most consumers haven’t observed assortment changes with only 7% reporting a noticeable reduction in product

Couche-Tard Takes Hostile Bid to Casey’s Shareholders

By John Lofstock, Editor Under CEO Alain Bouchard, Alimentation Couche-Tard has grown to be one of the largest convenience store operators in world. The Laval, Quebec-based chain today took its boldest step to date when it commenced an all-cash offer to acquire Casey’s General Stores, the Iowa chain currently operating 1,513 stores throughout the Midwest.

Managing Tobacco’s Four Tier War

A Closer Look at Who’s Trading Down According to Mintel International, 80% of smokers polled said it’s worthwhile to have a quality cigarette, which is contributing to sales of premium cigarettes. Other factors influencing sales include: • 51% of smokers have one preferred brand they always like to buy. • Less than 2% of smokers

Susser Reports Q1 Results

Susser Holdings Corp. released its first quarter results, reporting that same-store merchandise sales for the first quarter of 2010 increased by 2.5%, compared with a 1.2% decline for the fourth quarter of 2009 and growth of 6.0% during the first quarter of 2009. Retail merchandise margin was flat versus the fourth quarter at 32.7%, and

First Quarter Declines For Delek US

Delek US Holdings Inc., a diversified energy company with assets in the petroleum refining, marketing and retail industries, announced its financial results for the first quarter of 2010. For the three months ended March 31, 2010, Delek US reported a net loss from continuing operations of $14.1 million, or ($0.26) per basic share, versus a

Chevron Reports First Quarter Income

Chevron Corp. has reported earnings of $4.55 billion ($2.27 per share – diluted) for the first quarter 2010, compared with $1.84 billion ($0.92 per share -diluted) in the 2009 first quarter. Results in the 2009 period included gains of approximately $400 million ($0.20 per share) from downstream asset sales. Foreign-currency effects reduced earnings in the

Finding Financing in a Tight Market

Money is tight, but some convenience store operators are finding the means to finance remodels or even acquisitions. Generally speaking, the availability of money depends on the size of the operator, according to Mark Radosevich, president of PetroProperties & Finance LLC in Miami. “The guys who are moderate size to large generally have relationships with

Could A Value-Added Tax Be Next?

President Barack Obama in an interview with CNBC Wednesday noted the possibility of a new value-added tax (VAT) is still on the table, although White House spokesmen insist it’s no longer being considered, the Associated Press reported.  A VAT is normal in many European countries, which tax the value added at each stage of production

Lending Outlook 2010

At the NACS Sumitt in Chicago this week, a panel of experts spoke to the c-store industry on today’s lending environment. “It is clear to me this would be a hot topic for many people in this room,” said Joseph Sheetz, executive vice president of finance for Sheetz Inc., who moderated the session. Panel participants

Law Office Conducts Investigation On Behalf of Casey’s Shareholders

The Law Offices of Howard G. Smith announced it is looking into potential claims against the board of directors of Casey’s General Stores Inc. related to the unsolicited purchase offer the company received from Alimentation Couche-Tard Inc. Couche-Tard is looking to acquire all outstanding shares of Casey’s for $36 per share in cash. The proposed

NACS Spends $770K Lobbying For Industry

The National Association of Convenience Stores (NACS) had a busy fourth quarter in 2009, lobbying the federal government on fuel issues and other business that affects c-stores. The association spent $770,000 in both the third and fourth quarter to fight for the interests of the industry, Business Week reported. The amount spent lobbying in the

High’s Dairy Stores Re-Aligns Upper Level Management

High’s of Baltimore Inc. has announced four management promotions it is making in order to aid the achievement of organizational goals and objectives.  “The challenges that our whole industry have faced over the last two years has made us a stronger operator and taught us what it’s going to take to continue to be successful

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