Strong results bring optimism for Q3 earnings.
Wells Fargo Securities LLC recently conducted a survey of beverage retailers representing more than 10,000 c-store retail locations across the country to measure beverage trends over the recent Labor Day holiday.
Survey results indicated that c-store beverage sales growth was up a strong +4% for Labor Day 2013, the strongest holiday weekend thus far in 2013. Wells Fargo attributed a much of this improvement to better weather across the majority of the country which drove increased customer traffic.
Wells Fargo respondents predict Q3 sales will be up +3.1% from last year. Approaching the final month of Q3, Wells Fargo is encouraged that beverage trends are picking up and by this early sign of improvement.
