Recent merger and taking the company public gobbled up revenues, profits. TravelCenters of America LLC has reported a huge loss for its first quarter, which ended March 31, due in large part to costs connected with going public. The company’s net loss in the quarter totaled $54.3 million. $45 million of the loss came from…
murphy joins tempo
New loyalty program rewards customers at the pump. Murphy USA has joined Tempo Payment Inc.’s network, which is initiating a system-wide implementation of Murphy-branded PIN debit cards at more than 1,000 gas stations, with an initial rollout to 111 stores in Atlanta, Dallas and Houston. As a result of the substantially lower interchange fees it…
tesoro takes control of la refinery
Deal also includes distribution to 278 stations. Tesoro Corp. has completed the purchase of Shell’s 100,000-barrel-per-day Los Angeles refinery and 278 operating stations. All 278 retail sites will remain Shell branded, but will be supplied by Tesoro. Tesoro has already assumed operational control of the refinery and has began overseeing responsibilities included the operations of…
New gasoline branding for The Pantry
New supplying agreement signed with Chevron. The Pantry Inc. has executed a new gasoline branding and supplies agreement with Chevron, covering the 66 Petro Express convenience stores that The Pantry recently acquired in North Carolina and South Carolina. Under the agreement, all of the gasoline operations at the Petro Express stores will be converted to…
valero tightens its belt
More than 100 retail managers released into early retirement. Valero will be releasing more than 100 managers on the retail end of its operations. The released managers, if they worked above the store level, will be offered early retirement. There are a total of 130 candidates eligible for early retirement, according to Valero spokesman Bill…
wholesale firms on the block
PetroProperties & Finance coordinating the confidential sale. by John Lofstock ____________________________________________ Wholesale petroleum companies in five key markets have been put on the sales block, CSDecisions.com has learned. PetroProperties & Finance LLC of Coral Gables, Fla., is coordinating the confidential sale of the companies in Delaware, Georgia, Illinois, Pennsylvania and Texas. Citing confidentiality agreements,…
standing out in the crowd
Aided by its partnership with Valero, Fas Mart and Shore Stop stores are thriving in a tough East Coast market. Just a few years ago, Fas Mart was facing financial uncertainty. With 170 stores, the Mechanicsville, Va.-based chain, which also operates Shore Stop stores, was forced into Chapter 11. But what was a difficult period…
what type of marketer are you
Dealer volume has never been more attractive and times have never been better for wholesale marketers considering exiting the industry. I was sitting in my office the other day ruminating that with the recent letter of intent we had just received, I was about to be a man without a jobbership to sell. Fortunately, the…
southeast petrofood show slated for march
The Southeast Petro-Food Marketing Exposition will be holding its 26th regional show March 7-8, 2007, at the Myrtle Beach Convention Center in Myrtle Beach, S.C. The expo, started by the North Carolina Petroleum MarketersAssociation in 1981, is the largest regional c-store/petroleum show in the nation, and is sponsored by the following five associations: North Carolina…
valero celebrates in style
CSD honors the San Antonio marketer as its 2006 Chain of the Year. In this age of cut-throat competition, fewchains are able to rise above theacrimony to stand out as a model corporate citizen. Valero Energy Corp. isat the top of that list, and that’s why itwas no surprise that more than 300retailers and suppliers…