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7-Eleven Reports Strong Quarter

DALLAS -- 7-Eleven Inc., the Dallas-based operated of more then 5,800 convenience stores in North America, reported a 5.8-percent increase in its U.S. same-store merchandise sales for February 2002, on top of a 3.6-percent gain for February 2001.

Total merchandise sales for February 2002 were also up increasing to $516.5 million, a jump of 6.2 percent over the February 2001 total of $486.3 million.

Gasoline sales for February 2002 were $172.7 million compared to $211.5 million in the prior year period. Sales decreased, however, 18.4 percent due to a 35-cent per gallon decline in the average retail price of gasoline year-over-year. The average retail price per gallon during February 2002 was $1.15, compared to $1.50 in February 2001.

Although sales were lower, the average gallons of gasoline sold per store increased 2.4 percent in February 2002, compared to the February 2001 figure. For the year, average gallons sold per store per month have increased 1.3 percent, but gasoline sales totaled $352.8 million, a decrease of 19.1 percent.
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