Latest news with #MurphyUSA
Yahoo
6 hours ago
- Business
- Yahoo
4 Arkansas-based companies ranked in latest Fortune 500 list
BENTONVILLE, Ark. (KNWA/KFTA) — Four Arkansas-based companies were featured in the latest edition of the Fortune 500 rankings released earlier this week. The Fortune 500 is a ranking released annually by Fortune Magazine and ranks 500 of the largest corporations in the country based on their total revenue from the previous fiscal year. Here's where the four Arkansas companies were ranked in the 71st annual rankings: #1 – Walmart #85 – Tyson Foods #231 – Murphy USA #348 – J.B. Hunt Transport Services Past Walmart shareholder celebrities The revenue threshold for the overall rankings was $7.4 trillion, up 4% from the previous year. Walmart topped the ranking for the 13th consecutive year with a cumulative revenue of $6.8 trillion. The retail giant has been featured in the top five of every ranking since 1995. Amazon, UnitedHealth Group, Apple and CVS Health rounded out the top five. Tyson Foods remained at 85th for the second consecutive year after dropping from 80th in 2023. Murphy USA and J.B. Hunt also saw drops in their rankings from the previous year, falling 17 and 32 spots, respectively. To see the full rankings, visit Fortune's website. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Miami Herald
28-05-2025
- Business
- Miami Herald
Lottery ticket worth $3 million jackpot sold in Florida. Who's the winner?
A gas station customer spent a few dollars on a Florida Lottery ticket and ended up winning a $3 million prize. Guy Larson came forward as the jackpot winner in a Florida Lotto drawing and claimed his winnings, the Florida Lottery announced May 28. Larson bought his ticket at a Murphy USA gas station in Lake City, which is about a 60-mile drive southwest from Jacksonville, McClatchy News reported in March. The Suwannee County man chose his own combination of six numbers ranging from one to 53 and matched all six to win the jackpot prize of $3 million in the March 29 drawing, records show. The odds of matching all six numbers are 1-in-22,957,480, according to the Florida Lottery. The 58-year-old visited Florida Lottery headquarters in Tallahassee to claim his prize as a lump sum of $1,647,453, officials said. Florida Lotto tickets start at $2 and offer add-on options for $1 to give you more chances to win. Drawings happen every Wednesday and Saturday.
Yahoo
27-05-2025
- Business
- Yahoo
Gwinnett commissioners shut down plan to build gas stations in community with dozens more
Gwinnett County commissioners unanimously rejected a Murphy USA proposal to build a gas station on Jimmy Carter Boulevard last week, following passionate opposition from residents who said their community already has too many gas stations. The company wanted to replace a pawn shop at the corner of Jimmy Carter Boulevard and Rock Bridge Road with a 2,800-square-foot store with six gas pumps. [DOWNLOAD: Free WSB-TV News app for alerts as news breaks] Murphy USA representatives promised high-tech security improvements, including up to 20 surveillance cameras. However, neighbors came armed with statistics that may have swayed commissioners. LoyLene Jefferson-Shaw told the board there are already 25 gas stations within a two-and-a-half-mile radius of the proposed location. Former police officer Dr. Jeff Fauntleroy raised safety concerns about gas stations in residential areas. 'These gas station food marts have become a hub for criminal activity,' Fauntleroy told commissioners. He cited 838 violent crimes reported at Georgia gas stations in 2021. TRENDING STORIES: 3 college friends killed in I-75 crash remembered as 'the most genuine people' R&B singer Jaheim charged in metro Atlanta animal cruelty case Georgia Tech student killing: Shooter snuck into apartment building, waited for victim, police say Residents are also worried about the community impact beyond crime and traffic. Murphy USA representative Stephen Oliver defended the project as a beneficial community development. 'We are proposing redevelopment of a 30-year-old, rundown pawn shop that's there now,' Oliver said. 'I think we'd be an addition to the community.' The Arkansas-based company operates 1,800 stores in 27 states. State Representative Marvin Lim (D-Norcross) supported the community opposition, submitting a petition with 130 signatures from nearby residents. The planning commission had previously recommended denial of the special use permit. Murphy USA has not indicated whether it will appeal the decision. [SIGN UP: WSB-TV Daily Headlines Newsletter]
Yahoo
26-05-2025
- Automotive
- Yahoo
Walmart, Costco, and even Dollar General are getting into the gas station business
Major retailers like Costco (COST), Sam's Club, and Walmart (WMT) are stepping on the gas even as the age of electric vehicles creeps closer. These big box stores — traditionally not a place for pumps, unless they are the kind sold in the shoe aisle — are turning into gas giants, expanding their hours, adding car capacity, and building more infrastructure None of this is surprising, say those who watch the fuel business. 'The world still runs on gas, not EVs. Everyone talks like the switch to EV is happening overnight, but big industry shifts like this take decades,' said Joe Camberato, CEO of Camberato noted that the EV infrastructure just isn't there yet — not enough charging stations or power supply. 'So in the meantime, there's still plenty of money to be made in the fuel business. Change is coming, but nowhere near as fast as people predicted,' he said. As testament to that, Walmart is opening more than 45 new gas stations across the United States this year. 'With the openings this year, we will have more than 450 locations across 34 states,' said Amanda Cantu, a Walmart spokesperson. 'Walmart fuel and convenience stations operate at stores without Murphy USA (MUSA) stations,' 'Our one-stop shops offer low prices at the pumps, and Walmart+ members save up to 10 cents per gallonwith their membership,' Cantu said, adding that Walmart fuel and convenience stations also provide a wide range of grab-and-go items. Costco and Dollar General (DG) did not return requests for comment, but earlier this year Costco announced that they would be expanding the hours of their members-only fuel centers, with most to stay open until 10 p.m., rather than 9 p.m., and still well beyond the typical 6 p.m. closing time of the store. 'Generally, our stations are now staying open an hour later than they did previously, with some opening earlier as well,' said Costco CEO Rob Vachris in a March earnings call with investors. Dollar General's move into fuel has been more halting, starting with a pilot location in Alabama that has now expanded to more than 40 stores, primarily in the South. But according to foot traffic estimates, there has been an increase in the number of retailers visited for non-discretionary goods and service, increasing competition among chains. 'Retailers are looking for a way to incentivize consumers to forgo competitors, and adding gas offerings or other services is certainly a lever that chains can utilize,' according to Elizabeth Lafontaine, director of research at analytics firm, 'Our data also indicates that the cross-visitation between the convenience store channel and other non-discretionary retailers has grown since the pandemic, and retail chains may be looking to take back some of that share of visitation.' Usha Haley, an expert on international strategy and currently the W. Frank Barton Distinguished Chair in International Business at Wichita State University, has studied the fuel business. She said that the retail giants appear to mirror each other's strategies as they compete for price-sensitive consumers. As the companies' operating margins are often below 3%, each does not want to risk giving competitors an advantage. 'Walmart's move into fuel signals an effort to rival Costco's successful fuel business, roughly 12% of its total sales in 2024. But, Walmart's gas stations will be open to any customer, unlike Costco and Sam's Club which restricts access to members. This could broaden Walmart's reach and boost revenue,' Haley said. She added that Costco, on the other hand, has followed Walmart's lead on U.S. tariffs, asking Chinese suppliers to absorb the costs, but they have resisted due to already operating under razor-thin profit margins. Walmart has now admitted that it may be forced to pass the costs of the tariffs to consumers and expects a drop in sales. Gas sales could cushion that blow. 'As gas prices are expected to fall initially under President Trump's policies, Walmart plans to compensate for some of the tariff-induced losses – before gas prices rise again, as they probably will,' Haley said. Manish Choudhary, CEO of SymphonyAI, which offers AI-driven analytics for retailers, said that since gas is a product that a vast majority of consumers still buy, it makes sense even for non-traditional fuel retailers to invest in it. 'The trend of retailers investing in gas stations highlights the broader industry trend of expanding on offerings beyond the traditional grocery or retail stores and placing an emphasis on responding to customer needs,' he said, adding that by investing in gas stations, retailers are able to further build loyalty with their customer base and provide the convenience of offering a filling station next to where shoppers are picking up their groceries for the week. And in a retail landscape that has been scrambled by supply chain kinks, tariffs, and inflation, gas is a no-frills winner. ' As consumers' expectations continue to evolve amid tariffs and market index fluctuations, retailers are forced to find new ways to foster loyalty, deliver exceptional customer experiences, and enhance each customer touchpoint,' Choudary said. SymphonyAI's new Grocery Sentiment Index highlighted the importance of nurturing customer bases as the behavior of loyal shoppers significantly impacted overall sentiment. Choudhary also explained that some of these retailers may be betting on the future that EV stations will one day replace gas pumps almost entirely, in which case, there is an opportunity to capture more business. 'The rise in EVs will present another opportunity for retailers. As traditional gas fueling stops take an average of seven minutes, EV charging can take half an hour or longer, even with fast charging technology,' he noted. This extended downtime presents a unique opportunity for retailers to reel shoppers into their stores. So retailers might seem like they are going retro by adding gas, but they are actually betting on the future, in hopes that you'll charge on your card, while your car charges in their lot. For the latest news, Facebook, Twitter and Instagram.
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
