40 YEARS OF CONVENIENCE RETAILING: 1984-1988

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40 YEARS OF CONVENIENCE RETAILING: 1984-1988

03/02/2009
1984

Mergers & Acquisitions
The Circle K Corp. purchased UtoteM Inc. from American Financial Corp. for $225 million, bringing the chain's store count to 2,180 in 17 states.

The Numbers
One out of 10 adults shopped at a convenience store daily, according to a CSNews/Gallup poll.

Product Trends
Discount cigarettes, led by generics, were the cigarette industry's prime growth vehicle, rising to an estimated 5.7 percent market share.

1985

Retailer Innovation
Git-n-Go Inc. installed automated fuel terminals which accepted cash and debit cards at some of its stores.

The Numbers
About half of all traditional c-stores were open 24 hours; approximately 60 percent of oil retailers were.

1986

Industry Landmark
The National Association of Convenience Stores celebrates its silver anniversary.

Store Operations
QuikTrip Corp. pulled men's sophisticate magazines from its shelves.

Oil marketers reported paying six to seven times what they once paid for environmental impact liability insurance -- if they could get it at all.

1987

In the News
Chester Cadieux, founder of Tulsa, Okla.-based QuikTrip Corp., was the first retailer inducted to the Convenience Store Industry Hall of Fame, sponsored by CSNews. Philip Morris Co. and McLane Co. Inc. were the supplier inductees.

The Numbers
The five largest chains in the U.S. were: The Southland Corp., The Circle K Corp., Convenient Food Mart Inc., Dairy Mart Convenience Stores and Cumberland Farms according to the CSNews Top 50.

1988

Government & Regulatory
A court ruled the word "convenient" too generic to trademark causing Convenient Food Mart to lose its trademark protection on its name and private label goods after a law suit with 6-Twelve Convenient Mart Inc.

Retailer Innovation
Arco dipped into non-gas retailing when it signed an agreement to convert 162 Plaid Pantry stores to am/pm mini markets.

The Numbers
The industry's 80,000 stores sold $72.4 billion in gas and merchandise, according to the CSNews Industry Report.