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Susser Provides Mixed Update for First Quarter 2010

CORPUS CHRISTI, Texas -- Susser Holdings Corp. said yesterday it expects same-store merchandise sales for the first quarter of 2010 to grow approximately 2.5 percent, while average retail fuel volumes per store are expected to decline 0.2 percent year-over-year.

This would mark an improvement over the convenience chain's results for the fourth quarter of 2009, when same-store merchandise sales declined 1.2 percent vs. a year ago -- the first time in 17 quarters that the company experienced a quarterly drop in its same-store merchandise sales. Meanwhile, average gallons sold per store for the fourth quarter of 2009 declined 5.9 percent compared to the fourth quarter of 2008.

Susser will release its full first-quarter 2010 results May 11, before the market opens.

The Corpus Christi, Texas-based company operates more than 525 convenience stores in Texas, New Mexico and Oklahoma primarily under the Stripes and Town & Country banners. Restaurant service is available in more than 300 of its stores, primarily under its proprietary Laredo Taco Company and Country Cookin' brands. Susser also supplies branded motor fuel to roughly 390 independent dealers through its wholesale fuel division.

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