There’s a host of potholes marring the road to profitability, and few convenience chains on the market can afford to bankroll a multimillion dollar facility to optimize their foodservice production and profits. What c-stores can do, however, is build an effective foodservice program from the ground up if they learn to nurture the fundamentals and…
The Pantry Divests 80 Locations
The Pantry Inc., based in Cary, N.C., is selling 80 locations throughout the Southeast. The properties for sale include a mix of convenience stores with gas, stand-alone convenience stores, closed sites and prime real estate. Most of the stations are currently branded Kangaroo, Shell, Chevron, Citgo, Mobil, BP and Texaco. Stores are located in a…
Finding Financing in a Tight Market
Money is tight, but some convenience store operators are finding the means to finance remodels or even acquisitions. Generally speaking, the availability of money depends on the size of the operator, according to Mark Radosevich, president of PetroProperties & Finance LLC in Miami. “The guys who are moderate size to large generally have relationships with…
Casey’s Uses Poison Pill Defense
Canadian c-store giant Alimentation Couche-Tard is calling on Casey’s General Stores to discuss its bid, as the Iowa-based chain moves to instead thwart the hostile acquisition, the Globe and Mail reported. “A meeting would be more productive than putting roadblocks, like a poison pill, in the path of our compelling proposal,” Couche-Tard said in a statement.…
Consumer Confidence Improving
“Consumers are back in the game,” James Russo, vice president of global consumer insights at Nielsen, assured the crowd of retailers at the NACS State of the Industry Summit in Chicago this week. Russo shared the top consumer behaviors c-store operators should watch for this year, noting that while consumers were on the sidelines in…
Florida Holdings Acquires 24 BP Stations
Scottsdale-based Florida Oil Holdings LLC bought 24 BP locations in Florida’s Lake, Orange and Osceola counties between March 8-11 for $33.5 million, marking its entry into the Central Florida market, the Orlando Business Journal reported. The stations were purchased in separate transactions under different business entity names. In acquiring the stores, the firm signed a…
Casey’s Rejects Unsolicited Couche-Tard Bid
Following an unsolicited proposal from Alimentation Couche-Tard, Casey’s General Stores stock grew 20.7% to $38.10 in premarket trading Monday after the company unanimously rejected the offer, The Street reported. Casey’s received the unsolicited buyout proposal for $36 a share in cash on March 9. In a statement released on April 9, Casey’s said “the board…
7-Eleven Adds Stores In Salt Lake City
7-Eleven Inc. has announced a real estate partnership with NAI Corporate Real Estate Services (NAI CRES) in the Salt Lake City market to build its presence in the area and significantly add to the nearly 100 stores the company operates, franchises and licenses in the area. The convenience retail leader selected NAI as its exclusive…
The Simple Secret of Free Publicity
Whether you operate a large or small chain, there are deals to be made that can attract a lot of positive attention to your company. I know some of you don’t place much of a value on publicity, but when was the last time you priced the cost of a retail ad in the local…
Maintaining Faith in America
With jobs being transferred overseas and business burdened with new financial challenges, more and more employees are struggling to survive. Now I’ll be the first to admit that I don’t have a great understanding of the global economy, but there’s a disturbing trend of outsourcing jobs overseas, while at the same time hamstringing American business…