Latest news with #convenienceStores
Bloomberg
10-07-2025
- Business
- Bloomberg
Seven & i's Profit Helped by Better Store Traffic
By Updated on Save Seven & i Holdings Co. 's quarterly profit topped estimates, as shoppers become more accustomed to persistent inflation and start to spend more cash at convenience stores in Japan. Operating profit for the three months ended May rose 9.7% from a year earlier, to ¥65.1 billion ($445 million), the company said in a statement Thursday. That exceeded the ¥61.8 billion projected by analysts, on average.
Yahoo
09-07-2025
- Business
- Yahoo
BP dismissing head of US c-store loyalty
This story was originally published on C-Store Dive. To receive daily news and insights, subscribe to our free daily C-Store Dive newsletter. BP is parting ways with Jack Benoff, the company's director of digital and loyalty for its U.S. convenience stores, Benoff announced via LinkedIn on Monday. Benoff said his termination is part of BP's broader reorganization, in which the company is cutting about 5% of its workforce this year to improve its performance, drive cash flow and increase shareholder value. Last month, a BP spokesperson said the company was also overhauling its marketing functions. Benoff joined BP six years ago in what was his first foray into the convenience store industry. Over the past few years, he led BP's digital experience across over 1,200 Thorntons and Ampm convenience stores, including the development of its Earnify loyalty program that launched in 2024, according to his LinkedIn bio. Prior to joining BP, Benoff spent several years as a digital account manager for a variety of companies, including branding firm Struck, professional services firm Accenture and marketing firms Ogilvy and The Rose Group. Earlier in his career, he co-founded augmented reality software company Zugara. A BP spokesperson did not respond by press time to comment on Benoff's departure and who would be taking over his duties. 'Looking back on the last six years, I'm proud of the work and the impact: spearheading the redesign of the ampm app (growing digital revenue over 18X) and architecting a consumer-centric loyalty strategy that underpinned a transformation across bp's North American footprint,' Benoff said in his announcement. 'The new program, earnify, is now live at over 7,500 sites.' Benoff isn't the first leader from BP's U.S. convenience team to feel the impacts of the company's reorganization. Last month, C-Store Dive reported that BP was making changes to TravelCenters of America's marketing department that will result in layoffs through the rest of 2025. Recommended Reading BP overhauling TA's marketing department 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
09-07-2025
- Business
- Yahoo
Fueling Up: What's slowing Yesway down?
This story was originally published on C-Store Dive. To receive daily news and insights, subscribe to our free daily C-Store Dive newsletter. Fueling Up is a column from C-Store Dive offering a fresh perspective on the top news and trends in the convenience store industry. Few convenience retailers looked more promising a handful of years ago than Yesway. By the time the company turned four years old in 2019, it had surpassed 400 c-stores. The bulk of that growth came from Yesway's $850 million acquisition of Allsup's, the 300-location chain with stores across New Mexico, Texas and Oklahoma. The financial growth also was tremendous, as Yesway hit about $1.5 billion in total revenue in 2020 — smashing the $561 million the retailer garnered the year before. Yesway's aggressive growth inspired its leaders to take their biggest leap yet. In September 2021, the retailer's parent company, BW Gas & Convenience, filed with the Securities and Exchange Commission to take Yesway public. The number of shares to be offered and the price range for those shares weren't established, but the IPO intended to make Yesway the sole managing member of BW while affiliate Brookwood Financial Partners would control all major corporate decisions. Yesway's leaders didn't offer a timeline for the IPO but emphasized in its SEC filing that 'we… believe we are well positioned to continue to solidify our market position and grow our store count.' The retailer also outlined plans at the time to roll out a small-format Allsup's store model, Allsup's Express, that would target on-the-go college students seeking quick food options. But unexpectedly, Yesway axed its IPO plans in late 2022, beginning what I would consider a disappointing few years for the company. Since then, Yesway has barely grown its c-store network, lost some of its top executives to competitors, seemingly scrapped its Allsup's Express model and revealed forthcoming exits from two of its original markets. This stunted growth has led to the question that has swirled my brain the past few months: What's slowing Yesway down? Brookwood CEO Tom Trkla told C-Store Dive in March 2023 that the IPO was halted because of market volatility. He added that Yesway intended to refile with the SEC later that year. 'We always knew we were going to refile,' Trkla said in that interview. 'We'll refile the S-1 sometimes in the second quarter. We're working on that right now, updating it.' But no traction has been made on Yesway's potential IPO more than two years later. A spokesperson from Yesway did not respond by press time when asked if the company is still considering an IPO at this point. In that same 2023 interview, Trkla said that he aimed to double Yesway's store count 'in the next four or five years' and was creating the infrastructure to build anywhere from 60 to 80 locations per year. At that time, Yesway had 430 locations in its network — only 14 less than it had as of late May 2025. A company spokesperson did not respond by press time when asked why Trkla's large growth plans haven't materialized. Not only has Yesway barely grown its c-store count over the past two years, but it's about to see that number drop with the looming sale of 30 convenience stores across Iowa and Kansas, which C-Store Dive first reported back in February. Yesway's spokesperson said in February that these stores didn't match its overall strategy, but a source close to the situation said that selling these 30 locations — as well as the apparent end to the Allsup's Express model — are part of an internal retrenchment strategy. In June, C-Store Dive reported that Omaha, Nebraska-based c-store retailer Mega Saver appears to be looking to buy these 30 sites, signaling that a deal could be approaching. Yesway's changing plans this year coincided with longtime Chief Marketing Officer Derek Gaskins and Vice President of Marketing Darrin Samaha leaving for BP and Parker's Kitchen, respectively, two weeks apart in March. Anyone who's attended a c-store event in recent years knows Gaskins and Samaha were two of the most familiar faces at Yesway — and losing them was undoubtedly a heavy blow. Although Yesway isn't commenting on its challenges, I think it's clear that there are some financial strains happening behind the scenes. While anything can happen, I doubt an IPO is on the way anytime soon. Whether or not Yesway can rebound from its slow couple years and reach its ambitious store growth goals will be worth monitoring. If it can't bounce back, we may soon see another mid-size c-store competitor leaving the industry. Recommended Reading Yesway appears to be in talks to sell Iowa and Kansas c-stores to Mega Saver Sign in to access your portfolio
Yahoo
07-07-2025
- Business
- Yahoo
Casey's General Stores, Inc (CASY): A Bull Case Theory
We came across a bullish thesis on Casey's General Stores, Inc on Pitchstack Investing Substack by Pitchstack Investing. In this article, we will summarize the bulls' thesis on CASY. Casey's General Stores, Inc's share was trading at $ 506.31 as of 18th June. CASY's trailing and forward P/E were 34.58 and 31.95 respectively according to Yahoo Finance. A busy grocery store aisle stocked with the company's weight management products. Casey's General Stores operates a large chain of convenience stores across the U.S., with a focus on food, beverages, and fuel. Its strategic emphasis lies in serving rural and underserved markets, a move that has proven effective in driving steady foot traffic and loyalty. Notably, 75% of its store traffic stems from non-fuel purchases, which are considerably more profitable, generating industry-leading margins of 41%. Among these offerings, the prepared food and beverage category stands out as a key growth engine. In Q1 2025, this segment delivered an impressive 58% gross margin, underscoring Casey's ongoing shift toward higher-margin products that elevate its overall profitability profile. The company's commitment to a vertically integrated operating model—owning both its distribution centers and store real estate—provides significant competitive advantages. This integration enhances supply chain control, improves cost efficiencies, and enables rapid responsiveness to market dynamics, particularly important in inflationary or supply-constrained environments. Casey's approach positions it well to weather economic fluctuations while maintaining strong margins and consistent customer traffic. The expanding portfolio of prepared meals and private-label offerings not only supports margin expansion but also builds brand loyalty and differentiates the chain in a fragmented convenience store landscape. With a clear strategy, strong operational backbone, and proven ability to execute in niche markets, Casey's stands out as a resilient and opportunistic player. Its focus on high-margin segments and cost-efficient operations presents an appealing investment case, offering both stability and growth potential in a defensive yet evolving retail sector. Previously we covered a bullish thesis on Casey's General Stores, Inc. by Two Natural Capital in May 2025, which highlighted the company's dominance in rural markets, its transformation into a food-first operator, and strategic acquisitions like Fikes Wholesale to accelerate store growth. The company's stock price has appreciated approximately by 9% since our coverage. This is because the company's growth initiatives and food-led strategy have continued to deliver. The thesis still stands as Casey's maintains operational discipline, margin strength, and geographic expansion. Pitchstack Investing shares a similar view but emphasizes the benefits of vertical integration and non-fuel margin resilience. Inc. is on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 328 hedge fund portfolios held AMZN at the end of the first quarter, which was 339 in the previous quarter. While we acknowledge the risk and potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-07-2025
- Business
- Yahoo
Majors acquires 35 retail fuel and convenience store from Circle K
US convenience stores and retail fuelling locations operator Majors Management has closed the acquisition of 35 retail fuel and convenience store locations in Indiana, Ohio and Pennsylvania from Alimentation Couche-Tard (Circle K). The move follows a US Federal Trade Commission consent order to maintain competition in these markets. The acquired locations will be rebranded as MAPCO and upgraded to offer a modern environment with convenient grab-and-go meals and coffee. Majors Management president Ben Smith stated: "These stores are an exciting strategic addition for Majors Management, and we are thrilled to expand the MAPCO brand into Ohio, Indiana and Pennsylvania. "We are honoured to serve customers in three new states and welcome them to the MAPCO experience, which combines quality fuel, great food and beverage selections, and the convenience and rewards customers love." The new MAPCO stores will offer a customer-focused experience with a range of amenities and the MYReward$ loyalty programme. The MYReward$ loyalty programme will allow customers to earn points on every purchase, which can be redeemed for discounts on fuel and in-store items. Majors Management is planning to retain current employees and invest in facility upgrades. The expansion is a strategic move by Majors Management to grow MAPCO's footprint into new regions while maintaining high standards of service and local investment. In February 2025, Majors Management acquired four Mac's Food Stores from affiliates of McNeill Oil Company in Aberdeen, Pinehurst and Southern Pines in North Carolina, strengthening its footprint in the state. In a related development, Tokyo-based Seven & i Holdings (7&i) and Alimentation Couche-Tard recently reached an agreement to evaluate the feasibility of a divestment strategy. "Majors acquires 35 retail fuel and convenience store from Circle K" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
