7-Eleven Reports Mixed Results

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7-Eleven Reports Mixed Results

06/17/2002
DALLAS -- 7-Eleven Inc., the operator of more than 5,800 convenience stores in North America, reported a 2-percent spike in U.S. same-store merchandise sales for May. Total merchandise sales for the month climbed to $628.6 million, an increase of 2.6 percent over the May 2001 total of $612.7 million.

Gasoline sales for the month dropped more than $20 million from May 2001 to $250.3 from $271.8 million. Sales decreased 7.9 percent due to a 26-cent per gallon decline in the average retail price of gasoline year-over-year, the company said in a statement.

The average retail price per gallon for May 2002 was $1.45, compared to $1.71 in May 2001. Although sales were lower, the average gallons of gasoline sold per store increased 5.6 percent in May 2002 compared to the May 2001 figure.

For the year to date, 7-Eleven said same-store merchandise sales climbed 3.2 percent. Total sales were up 4 percent, to $2.85 billion. Gasoline sales total $1.06 billion, a decrease of 10.3 percent despite a slight increase in gallons sold, the company said.