Latest news with #Arko
Yahoo
09-08-2025
- Business
- Yahoo
3 Big Numbers: What this week's c-store earnings bonanza revealed
This story was originally published on C-Store Dive. To receive daily news and insights, subscribe to our free daily C-Store Dive newsletter. 3 Big Numbers is a weekly column that looks at a few key details from around the c-store industry. This week was a busy one for c-store earnings, with several publicly traded companies reporting their latest quarterly results. In a two-day span, Arko, CrossAmerica Partners, Par Pacific Holdings, Parkland and Global Partners all posted their latest financials. What did we learn? While none of the companies reported major impacts from tariffs, a downturn in consumer spending or other macroeconomic headwinds, most of them are carrying out a major strategic initiative that showed up on their balance sheet. Arko is in the process of 'dealerizing' its stores, while CrossAmerica Partners is offloading non-core sites, and Parkland is readying for a takeover by oil company Sunoco. Here's a look at some of the key numbers from this latest earnings blitz. 60 The number of stores CrossAmerica sold during Q2 CrossAmerica Partners is one of the fastest-growing c-store retailers in the U.S. right now, but it is also trying to rightsize its portfolio of stores to maximize profits. During this year's second quarter, the company sold off 60 stores that were not performing well or were located in non-core markets, such as Colorado and Kansas. The Q2 selloff brought in around $64 million, netting just under $30 million. The 60 stores sold last quarter was double the number CrossAmerica divested in all of fiscal 2024, indicating the company is more committed than ever to operating only high-value sites. In addition, CrossAmerica is converting many of its stores from dealer sites to company-operated locations, giving it more control and uniformity over its footprint. Fifteen of the 60 sites sold in Q2 were company-owned stores. $1.99 billion Arko's Q2 total revenue, which marked its fifth consecutive drop in the metric While CrossAmerica is converting dealer sites to company-owned ones, Arko is in the midst of doing the opposite with hundreds of its stores. Since launching its 'dealerization' program last year, Arko has converted close to 300 sites from company-owned to dealer sites. Chairman, President and CEO Arie Kotler says he is 'very pleased' with progress so far — but the program is proving to be a drag on revenue, and analysts and investors are wondering when they will start to see benefits flow through. 'Is the pace of dealerizations going in line with the original plan?' one analyst asked during Arko's Q2 earnings call Wednesday, reflecting concerns that the strategy is taking longer than expected. Kotler said Arko is on pace to convert 500 stores and that the program will continue into next year. 'This is unheard of,' he said about the goal. Kotler noted that the strategy is a 'long-term play' aimed at saving $20 million. But with the company's stock down nearly 30% so far this year, the pressure to show results is rising 45% Year-over-year decline in adjusted Q2 EBITDA for Parkland Canada-based Parkland has struggled in the U.S. for years, and it seemed unlikely that one of the company's last earnings reports before completing its sale to Sunoco would show positive momentum. Predictably, Parkland's U.S. business in Q2 showed considerable weakness as the company struggled with what it called 'macroeconomic pressures continuing to impact fuel and convenience demand.' Or, to put it another way: Consumer price sensitivity is denting business. Specifically, Parkland's U.S. adjusted EBITDA dropped $21 million in Q2, marking the third consecutive quarterly decline in the key metric. In contrast, adjusted EBITDA in its Canadian business grew by $22 million. The big question at this point: What will happen to Parkland's U.S. c-stores once the deal materializes? The company owns around 660 locations and directly runs a little less than a third of them. Sunoco President and CEO Joseph Kim has stayed mum about that company's plans, but no doubt c-store competitors are eager to hear more when Sunoco is ready to share. Recommended Reading CrossAmerica sells 60 c-stores in Q2, exits Colorado and Kansas Sign in to access your portfolio
Korea Herald
23-06-2025
- Entertainment
- Korea Herald
Arko launches Sum Festa to bring performing arts festivals together
Arts Council Korea (Arko) seeks to foster collaboration across genres and regions with the launch of its new umbrella brand, 'Sum Festa,' bringing together 17 of the 45 performing arts festivals it supports nationwide. The initiative aims to connect theater, dance, music and traditional arts festivals under one banner, while preserving each event's distinct character and local roots. This summer's lineup includes events such as the Arts in Tank Dance Festival (July 1-27), the ChangMu International Performing Arts Festival (Aug. 22-31) and the Hic et Nunc Festival (Aug. 22-Sept. 5) by the Sejong Soloists. Previously operated independently, the participating festivals will now engage in joint marketing, cross-genre programming and regional partnerships. According to Arko, the unified platform is intended to build greater synergy and reach broader audiences across the country. Actor Park Jeong-ja, who will appear in the Evergreen Theater Festival (July 30-Aug. 17) featuring veteran stage actors, welcomed the initiative. 'There's something heartwarming about these different festivals coming together under one name to meet audiences,' she said during a press conference on Monday. 'Performing arts festivals serve as bridges connecting people and art, and this is a meaningful step toward sharing that connection more widely.' Conductor Baek Yoon-hak, who will lead the opening of the July Festival (July 1–31), a monthlong classical music series celebrating major composers, joined the initiative. 'The performing arts are, by nature, collaborative,' he said. 'Festivals are a larger stage for that collaboration. I hope this shared brand will spark new encounters between artists and audiences, across genres and regions.'
Korea Herald
22-05-2025
- Entertainment
- Korea Herald
Arko, Getty forge partnership to exchange research programs
Partnership comes ahead of 100th birthday of late artist Paik Nam-june in 2032 Arts Council Korea, a national institution dedicated to promoting arts and culture, and Getty Research Institute, a US-based center for historical art research, conservation and scholarship, announced partnership on Thursday to collaborate on art history research, exchanging research projects and scholars. The announcement was made ahead of the 100th anniversary of the birth of Korean-born video artist Paik Nam-june in 2032, according to Arko. Starting from fall 2025, a delegation of Arko staff members will visit Getty to learn about their archival holdings, research projects and history of international exchange. Getty staff will pay a reciprocal visit to Arko and the Nam June Paik Art Center in Yongin, Gyeonggi Province, to discuss their next steps, according to Getty Research Institute. 'The Arts Council Korea will put forward full efforts to function as a foothold for Korean art to be heralded globally with diverse international partnerships,' said Choung Byoung-gug, chairperson of Arko, Thursday. Arko will fund a pilot program in 2026 for Korean guest researchers to embark on a summer residency at Getty to explore the topic of Paik with a focus on his connections with a wider international circle of artists and his legacy in contemporary art. 'Fluxus was an absolutely seminal moment in Paik's career. We have one of the largest collections in the world of Fluxus art, and it came through the first collector of Fluxus art, named Jean Brown. We also have the archive of David Tutor, who was a frequent collaborator with avant-garde, and he was John Cage's closest collaborator,' Andrew Perchuk, deputy director of the Getty Research Institute, told The Korea Herald. Arko is a public institute under the Ministry of Culture, Sports and Tourism. It operates arts platforms including the Arko Art Center and participates in the Korean Pavilion for the Venice Biennale. Getty Research Institute in Los Angeles is a leading international center with special collections and an array of programs. It forged its first official collaboration with a Korean institution, the National Research Institute of Cultural Heritage, in 2024.
Yahoo
17-05-2025
- Business
- Yahoo
3 Big Numbers: Taking a closer look at new store designs
This story was originally published on C-Store Dive. To receive daily news and insights, subscribe to our free daily C-Store Dive newsletter. 3 Big Numbers is a weekly column that looks at a few key details from around the c-store industry. Convenience retailers regularly innovate their store designs. From 7-Eleven planning to implement a new food-forward format at hundreds of stores to local operators that tailor their corner stores to what the neighborhood needs, upgrading both the look and offer inside helps keep up with customer expectations and turn stores into destinations. In this week's '3 Big Numbers,' we look at the investment Arko Corp. is making in a food-focused format, the size of Kent Kwik's latest location and the operational impact of Murphy USA's updated store design. The upper end of what Arko is spending on its new locations. Arko has been teasing its new food-focused convenience stores since last summer. In its latest earnings report, leaders shared that construction on the first of these seven sites has now begun. These locations will feature Arko's new proprietary foodservice program, Fas Craves, which will include hot and cold grab-and-go foods, baked goods, pizza, roller grill dogs and other fresh-prepared items, Chairman, President and CEO Arie Kotler said during the company's earnings call last week. Arko isn't skimping on these projects. The company expects to spend between $700,000 and $1.1 million on renovating the sites to accommodate Fas Craves, Kotler noted in the call. The square footage of Kent Kwik's upcoming food-focused store. Kent Kwik, which is owned by The Kent Companies, is testing out a new food-focused format, with its latest iteration expected to open next month, according to its website. The location, which is being built in Midland, Texas, will feature a 6,200-square-foot store and a made-to-order kitchen. The site has more to offer than just food. It will also have a drive-thru, the company's second-ever Kent Dog Wash and a two-bay car wash, according to Kent Kwik's website. Local reporting even notes that a Kent Lube Fast Oil Change Center will be coming to the site. The difference in merchandise margin between Murphy USA's new and old designs. Murphy USA has been operating its new stores in some markets for a while. Anyone interested can even take a peek inside via our coverage of its recently remodeled site near El Paso, Texas. But thanks to a recent earnings call, we can also look inside the books for these stores, too. According to company data, these revamped designs outperform older stores both inside and out. In the forecourt, stores with the new design are seeing about 20% more fuel gallons sold, CFO Gallagher Jeff said during the call. The difference is even more stark inside, with a roughly 40% increase in merchandise margins. 'These new stores are driving value and winning new customers, which is while we're aggressively working on our new store pipeline,' said Jeff. Recommended Reading Murphy USA's new store design was the star of Q1
Yahoo
06-03-2025
- Business
- Yahoo
Only Three Days Left To Cash In On Arko's (NASDAQ:ARKO) Dividend
Arko Corp. (NASDAQ:ARKO) stock is about to trade ex-dividend in 3 days. The ex-dividend date occurs one day before the record date, which is the day on which shareholders need to be on the company's books in order to receive a dividend. The ex-dividend date is important as the process of settlement involves a full business day. So if you miss that date, you would not show up on the company's books on the record date. This means that investors who purchase Arko's shares on or after the 10th of March will not receive the dividend, which will be paid on the 21st of March. The company's next dividend payment will be US$0.03 per share, and in the last 12 months, the company paid a total of US$0.12 per share. Calculating the last year's worth of payments shows that Arko has a trailing yield of 2.8% on the current share price of US$4.25. We love seeing companies pay a dividend, but it's also important to be sure that laying the golden eggs isn't going to kill our golden goose! We need to see whether the dividend is covered by earnings and if it's growing. Check out our latest analysis for Arko Dividends are usually paid out of company profits, so if a company pays out more than it earned then its dividend is usually at greater risk of being cut. Last year Arko paid out 92% of its profits as dividends to shareholders, suggesting the dividend is not well covered by earnings. That said, even highly profitable companies sometimes might not generate enough cash to pay the dividend, which is why we should always check if the dividend is covered by cash flow. What's good is that dividends were well covered by free cash flow, with the company paying out 18% of its cash flow last year. It's good to see that while Arko's dividends were not well covered by profits, at least they are affordable from a cash perspective. Still, if the company continues paying out such a high percentage of its profits, the dividend could be at risk if business turns sour. Click here to see the company's payout ratio, plus analyst estimates of its future dividends. Companies with consistently growing earnings per share generally make the best dividend stocks, as they usually find it easier to grow dividends per share. If earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. That's why it's comforting to see Arko's earnings have been skyrocketing, up 33% per annum for the past five years. Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. Arko has delivered 14% dividend growth per year on average over the past three years. It's great to see earnings per share growing rapidly over several years, and dividends per share growing right along with it. From a dividend perspective, should investors buy or avoid Arko? It's good to see earnings per share growing and low cashflow payout ratio, although we're uncomfortable with Arko's paying out such a high percentage of its profit. In summary, it's hard to get excited about Arko from a dividend perspective. So while Arko looks good from a dividend perspective, it's always worthwhile being up to date with the risks involved in this stock. Our analysis shows 5 warning signs for Arko and you should be aware of them before buying any shares. A common investing mistake is buying the first interesting stock you see. Here you can find a full list of high-yield dividend stocks. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
