Year in Review: The Top Retailer Stories of 2024
NATIONAL REPORT — In 2024, convenience store retailers were focused on making moves to grow their business. Case in point: Wawa Inc. entered the state of Georgia, marking the chain's ninth state of operation, and Love's Travel Stops surpassing the milestone of 650 locations.
Operators were also focused on enhancing store offers and the customer experience. bp went live with Earnify, a new loyalty app, while Texas Born grew its line of private label offers.
These are the top retailer news headlines of 2024 in the convenience store channel:
1. Future of 7-Eleven Could Include an IPO
Reports indicate the $58 billion management buyout offer of Seven & i Holdings Co. Ltd. currently on the table would include plans for an initial public offering (IPO) of the North American convenience store business. The news of a possible IPO comes as the Tokyo-based parent company of 7-Eleven Inc. tries to fend off an acquisition bid by Alimentation Couche-Tard Inc.
2. Maverik to Rebrand All Kum & Go Convenience Stores
Maverik — Adventure's First Stop plans to rebrand all Kum & Go stores, which the chain acquired in August 2023. Although the retailer did not provide a timeline, the chain said it is taking a "thoughtful, market-by-market approach."
3. Wawa Enters Ninth State With Its First Georgia Store
Wawa Inc. officially began operations in Georgia, its ninth state, upon the grand opening of a c-store at 1401 Tallahassee Highway in Bainbridge on Nov. 14. The chain was slated to open two more Georgia stores before the end of the year, and plans to add five to six additional stores in the state in 2025.
4. Love's Network Tops 650 Locations
Love's Travel Stops reached an important milestone in the company's strategic growth plan, surpassing 650 stores during its 60th anniversary year with the opening of locations in Wichita, Kan., and Hattiesburg, Miss.
5. bp Goes Live With New Loyalty App
bp launched Earnify, a new loyalty app created to deliver a more seamless, integrated and rewarding experience for users, both at the pump and in-store. Earnify users can earn points on every dollar spent at bp and Amoco locations, both on fuel and in-store items.
6. ARKO Reportedly Exploring Sale of C-store Assets
The company is working with investment bankers at Citigroup to sell its portfolio of 1,500-plus stores, people familiar with the matter told Reuters. Such a move would reverse course on multiple years of expansion — which included a 2023 attempt to beat out bp to acquire TravelCenters of America — following a slowdown in c-store sales.
7. Parker's Kitchen Cuts the Ribbon on Its Largest Store
The new store offers 7,122 square feet of retail space and features larger retail, food and checkout areas, along with expanded bathrooms. Located at 1215 East King Ave., off of Exit 3 on I-95, the store is now the southernmost Parker's Kitchen on the interstate and is part of the company's fast-growing expansion toward Jacksonville, Fla.
8. TXB Grows Private Label Assortment
All private label offerings are manufactured, produced, bottled or bagged in Texas. The convenience store operator carefully selects quality and value-based products in order to provide the best that Texas has to offer to its guests, according to the company.
9. Stewart's Shops Owners to Sell Stake to Employees
The owners of Stewart's Shops are making changes as part of their succession plans for the privately owned chain. The Dake family will sell its 60% stake in the company to employees over the next 20 years. Stewart's employees currently own 40% of the company through its employee stock ownership plan.
10. Buc-ee's Files Suit Against Missouri Drive-Thru Over Trademark Issue
The lawsuit alleges that 2 Wiseman Enterprises dba Duckees Drive Thru and its cartoon duck logo infringe Buc-ee's trademarks, including two trademarks covering Buc-ee's cartoon beaver logo, two trademarks covering its name, and four trademarks covering its advertising business services and various other Buc-ee's branded goods.