Susser's Portfolio Grows With New Builds, Acquisitions
CORPUS CHRISTI, Texas - Susser Holdings Corp. opened five new large-format Stripes convenience stores and acquired two more stores during its 2014 fiscal second quarter, the company reported in an operating results update on Tuesday. As of June 29, Susser operated a total of 636 retail stores, 408 of which have a Laredo Taco Co. quick-service restaurant concept.
Year to date, Susser has added 57 retail stores, comprising 49 acquired stores and eight newly built stores.
In its report, Susser also stated it expects to see same-store merchandise sales grow by approximately 4 percent year over year for its fiscal second quarter. For the first half of 2014, same-store merchandise sales are expected to increase by 3 percent year over year.
On the fuel side, average per-store fuel volume is expected to decline by 0.4 percent, vs. growth of 5.5 percent during the same period in 2013. Excluding Sac-N-Pac locations Susser acquired, retail average per-store fuel volumes grew 2 percent in Susser's fiscal second quarter.
For the first half of 2014, Susser expects to report an estimated per-store fuel volume increase of 0.8 percent -- or 3.1 percent excluding Sac-N-Pac stores -- vs. growth of 4.9 percent in the first half of 2013.
Corpus Christi-based Susser Holdings will officially report second-quarter financial earnings results on Aug. 8. The company is also expected to address progress regarding an announcement in May that it will be acquired by Energy Transfer Partners LP, parent company of Sunoco Inc.