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7-Eleven August Sales Pass $1 Billion Mark

DALLAS -- 7-Eleven Inc. reported total August sales of $1.1 billion, an increase of 7.2 percent over the August 2003 total of $1 billion. Total merchandise sales for the month were $719.6 million, an increase of 2.6 percent over the August 2003 total of $701.7 million. U.S. same-store merchandise sales for the month increased 2.1 percent, on top of a 3.9 percent increase in August 2003. Included in the August merchandise results is the impact of the recent acquisition of the American Express ATM network located in 7-Eleven stores.

Gasoline sales for August were $373.4 million, a 17.4 percent increase compared to $318 million in the prior-year period. Average gallons sold per store increased 3.6 percent in the month compared to the August 2003 result. The average retail price of gasoline for August was $1.89, compared to $1.66 in August 2003.

The following results compare year-to-date results through Aug. 2004 to the same period last year:

* U.S. same-store merchandise sales increased 5.6 percent, on top of a 2.8 percent increase for 2003.

* Merchandise sales were $5.3 billion, an increase of 6.3 percent.

* Gasoline sales total $2.8 billion, an increase of 21.7 percent.

* Average gallons sold per store have increased 5.6 percent.

August sales at 7-Eleven were lower than the year-to-date trend because of adverse weather conditions in many parts of the country, including the hurricanes in the southeastern United States. A later Labor Day holiday resulted in lower sales in August and correspondingly higher sales comparisons in September.

Jim Keyes, 7-Eleven's president and CEO, said, "7-Eleven's ability to adapt to the changing needs of its customers produced positive August same-store sales comparisons in spite of the adverse trends echoed by many retailers. September trends are significantly improved with expectations of September merchandise comparables in the 4 to 6 percent range."
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