Susser (SUSS) SSS Grow 1.9% in Q1

Susser Holdings Corporation (NYSE: SUSS) and Susser Petroleum Partners LP (NYSE: SUSP) today provided partial operating results for the first quarter of 2014.

Susser Holdings expects to report:

• Same-store merchandise sales growth of approximately 1.9 percent, compared to growth of 4.2 percent for the year-earlier period, which included the Easter holiday. This year, Easter falls in the second quarter.
• Retail average per-store fuel volume growth of approximately 2.0 percent, compared to growth of 4.1 percent for the year-earlier period. Excluding the 47 Sac-N-Pac stores acquired at the end of January, the average gallons per store grew by 4.2% compared to the first quarter of 2013.

Susser Petroleum Partners expects to report total gallons sold of approximately 433 million for the first quarter, an increase of approximately 18% over the first quarter of 2013.

New Locations Update

Susser Holdings opened two new Stripes® convenience stores during the first quarter and acquired 47 convenience stores at the end of January that are currently operating under the Sac-N-Pac brand. The Company operated 629 retail convenience stores as of the end of March, 402 of which included an in-store restaurant offering. The Company has acquired 1 additional convenience store to date in the second quarter, and currently has 17 under construction.

27 new dealer sites were added in the wholesale segment during the first quarter, including 19 acquired in conjunction with the Sac-N-Pac acquistion, and two sites were discontinued for a total of 616 contracted branded sites as of March 31, consisting of 99 consignment locations and 517 other independent branded dealer locations.

Susser Holdings and Susser Petroleum Partners completed sale leaseback transactions for seven new Stripes locations during the first quarter at a total cost of $27.3 million. Since the initial public offering of units in Susser Petroleum Partners was completed in September 2012, Susser has completed sale leaseback transactions for a total of 40 newly-built stores at a cumulative cost of $160.7 million.

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