Industry Roundup: The Top 10 Most-Read Stories of July 2023
NATIONAL REPORT — Strategy updates, acquisitions and divestments were among the top headlines last month. In the latest Industry Roundup, we present the top 10 most-read stories for the month of July, based on reader views:
1) Casey's Explores Opportunities for Network Expansion
According to Brian Johnson, senior vice president, investor relations and business development, the company's two-pronged approach to growth — a mix of new builds and acquisitions — is proving successful. Partly, the success has been driven by the creation of a dedicated mergers-and-acquisitions team focused on outreach to smaller operators.
2) Casey's Zeroes In on Store Efficiencies to Enhance the Guest Experience
The convenience store chain's approach to boosting operational efficiencies centers around four strategic steps: store simplification, streamline the kitchen, faster service and inventory optimization.
3) Casey's Focuses on Food as It Maps Out Future Growth
The three primary strategies for the next stretch of Casey's journey are: accelerating the food business, including prepared foods, dispensed beverages and grocery; growing its store count; and enhancing operational efficiencies.
4) Credit Card Swipe Fee Reform Faces Vote in U.S. Senate
After reports of a possible imminent vote on the bill, which was attached to the National Defense Authorization Act as an amendment, NACS encouraged its members to urge their representatives to vote in favor of the bill.
5) Lou Perrine's Gas & Grocery Exits the Convenience Channel
The well-known independent convenience store retailer in Kenosha, Wis., ended operations on July 11 after nearly 70 years in business. The retailer's two locations were sold to an unnamed Indianapolis-based investment firm following four years of discussions.
6) National Convenience Distributors Acquires Southeast Company
Tampa, Fla.-based Colonial Distributing will join NCD as a newly created division and expand NCD's geographical reach along from Maine to Florida. With the deal, NCD now services 13 states with annual revenues approaching $3.5 billion.
7) Global Partners to Shed 50-Plus Nonstrategic Sites
Of the 54 sites, 21 are located in Connecticut, five in Massachusetts, one in Maryland, three in New Hampshire, 10 in New York, two in Rhode Island, one in Virginia and 10 in Vermont.
8) FDA Issues Warnings to Distributors for Selling Illegal Disposable Vapor Products
The illegal products listed in the letters included e-cigarette products Elf Bar/EB Design, Esco Bars and Puff Max, the former two of which have been the focus of earlier FDA actions on retailers, aimed at cutting down on illegal sales of youth-appealing tobacco products.
9) Shell Boosts Savings Potential for Fuel Rewards Members
The latest addition to the rewards program will let customers who qualify for Platinum Status to save 10 cents per gallon on every fill-up and offer double the savings when shopping on select In-Store Rewards products at Shell convenience stores.
10) Convenience Retailers Rank Among Best Employers for Women
In its latest rankings, Forbes magazine recognized four convenience store chains and several consumer packaged goods companies on the 2023 America's Best Employers for Women list: Kwik Trip/Kwik Star (No. 165), Sheetz Inc. (No. 288), Wawa Inc. (No. 363) and QuikTrip Corp. (No. 392).