Year in Review -- 4Q 2010
As in the previous quarter, ExxonMobil continued to sell off its company-owned convenience stores, this time offering 183 Florida locations to 7-Eleven. On the tobacco-front, Lorillard introduced its long-awaited non-menthol Newport cigarette ahead of the FDA’s review of the entire menthol category. Meanwhile, RJ Reynolds and Philip Morris USA announced price increases on all their brands, raising the price to buy their cigarettes 80 cents per carton across the board.
Events also highlighted the fourth quarter, as the NACS Show in Atlanta was a rousing success (see www.csnewsattheshow.com for full coverage) in October and two prominent industry leaders, Sonja Hubbard, CEO of E-Z Mart Stores, and Tom Joyce of The Hershey Co. were inducted into the Convenience Store News Hall of Fame in November (click here for full coverage and slide show of photos).
Below are the top two stories per month based on user views at www.csnews.com. To read the complete story, click on the link below each blurb.
Gas City Files for Chapter 11 Bankruptcy
Gas City Ltd., a Frankfort, Ill.-based chain of independent gas stations, filed for Chapter 11 bankruptcy protection this week, according to a Crain's report. click here for full story.
ConocoPhillips Shakes Up Top Management Team
ConocoPhillips announced its Chief Operating Officer John Carrig will retire next year, amid a larger shake-up of the company's top management, according to a report by Dow Jones. click here for full story.
Newport Non Menthol Cigarettes Hit Market
Lorillard Inc., the third-largest cigarette company in the U.S., began shipping its long-awaited, new non-menthol variety of its flagship Newport brand yesterday (Monday). click here for full story.
Mintel Predicts Top 5 Foodservice Trends for Coming Year
Mintel Menu Insights predicts that the top foodservice trends for 2011 will "walk the fine line between open disclosure and customer satisfaction." click here for full story.
Major Cigarette Brands See Price Increase
On Dec. 1, RJ Reynolds andPhilip Morris USA announced price increases on all their brands, with the cost to buy their cigarettes rising 80 cents per carton across the board. click here for full story.
7-Eleven Signs Agreement with ExxonMobil to Acquire 183 Florida Locations
7-Eleven Inc. agreed to acquire ExxonMobil's retail interests in 183 Florida sites, the company reported. The transaction is anticipated to close early in 2011, subject to standard closing conditions and regulatory approvals. Terms of the deal were not disclosed. click here for full story.