Susser (SUSS) Prelim. Q3 Comps Up 3.4%
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Susser Holdings Corporation (NYSE: SUSS) and Susser Petroleum Partners LP (NYSE: SUSP) provided partial operating results for the third quarter and first nine months of 2013.
Susser Holdings expects to report:
* Same-store merchandise sales growth of approximately 3.4 percent for the third quarter and 3.3 percent for the first nine months of 2013.
* Retail average per-store fuel volume growth of approximately 5.6 percent for the third quarter and 5.1 percent for the first nine months of 2013.
Susser Petroleum Partners expects to report total gallon growth between 8.0 percent to 9.0 percent for the third quarter and 6.0 percent to 6.5 percent for the first nine months of 2013.
New Locations Update
Susser Holdings opened 10 new large-format Stripes® convenience stores during the third quarter and closed one smaller store. Through the first nine months of 2013, the Company has opened a total of 20 new stores and closed three. Susser currently operates a total of 576 Stripes stores, of which 371 include a restaurant.
Susser Holdings and Susser Petroleum Partners completed sale leaseback transactions for 10 new Stripes stores during the third quarter at a total cost of $39.5 million, bringing to 30 the total number of new-build store sale leasebacks since the partnership's initial public offering, at a cumulative cost, including final cost true-ups, of $121.0 million.
Nine new contracted sites were added in the wholesale segment in the third quarter, and five sites were discontinued, for a total of 587 contracted branded sites as of September 29, consisting of 97 consignment locations and 490 other independent branded dealer contracts. Year to date, the company has added 24 new contracted sites to the wholesale segment and discontinued 16.
Susser Holdings expects to report:
* Same-store merchandise sales growth of approximately 3.4 percent for the third quarter and 3.3 percent for the first nine months of 2013.
* Retail average per-store fuel volume growth of approximately 5.6 percent for the third quarter and 5.1 percent for the first nine months of 2013.
Susser Petroleum Partners expects to report total gallon growth between 8.0 percent to 9.0 percent for the third quarter and 6.0 percent to 6.5 percent for the first nine months of 2013.
New Locations Update
Susser Holdings opened 10 new large-format Stripes® convenience stores during the third quarter and closed one smaller store. Through the first nine months of 2013, the Company has opened a total of 20 new stores and closed three. Susser currently operates a total of 576 Stripes stores, of which 371 include a restaurant.
Susser Holdings and Susser Petroleum Partners completed sale leaseback transactions for 10 new Stripes stores during the third quarter at a total cost of $39.5 million, bringing to 30 the total number of new-build store sale leasebacks since the partnership's initial public offering, at a cumulative cost, including final cost true-ups, of $121.0 million.
Nine new contracted sites were added in the wholesale segment in the third quarter, and five sites were discontinued, for a total of 587 contracted branded sites as of September 29, consisting of 97 consignment locations and 490 other independent branded dealer contracts. Year to date, the company has added 24 new contracted sites to the wholesale segment and discontinued 16.
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