Weaker margins, bleak outcome may lead to restructuring. The Pantry Inc. expects its gasoline gross margin and earnings per share for the fiscal year–ending Sept. 27, 2007–to be below its previous targets. Based on preliminary data, the company expects its retail gasoline gross margin for the fourth fiscal quarter to be between 10 cents and…
delek closes on lion
Company increases its total interest to 34.5%. Delek US Holdings has completed the acquisition of a 6.24% equity interest in Lion Oil Co. Total cash paid to the selling shareholders by Delek was approximately $23 million. This acquisition, along with a previously completed transaction, brings Delek’s total equity interest in Lion Oil to 34.5%. Lion…
simple approaches to reduce energy use
Keeping a cap on consumption can help cut costs and maintain budgets. by Mike Wardle, Roth Bros. Inc. Retailers spend nearly $20 billion annually on energy expenses, according to Energy Star, an Environmental Protection Agency (EPA) organization. And, as costs continue to rise, c-store operators need surefire strategies to conserve energy and maintain budgets. A…
omega helps the ymca
Association hands over check for $77,000. West Virginia’s Oil Marketers and Grocers Association (OMEGA) is showing its commitment to America’s youth with a recent donation to the YMCA’s of West Virginia on Thursday. The company handed over $77,000 to the youth organization last week. Money was raised in a variety of ways. For starters, OMEGA…
national restaurant association backs new bill
House representatives try to accelerate depreciation schedule to help foodservice proprietors. The National Restaurant Association is praising the introduction of a House bill aiming to address the tax code’s unfairness towards restaurants. The bill would make permanent the accelerated depreciation schedule of 15 years for both new building construction and improvements for restaurants across the…
susser holdings to acquire towncountry food stores
Deal increases company-owned store count to 500, expands geographic footprint into West Texas and Eastern New Mexico. The industry’s merger and acquisition activity continued today in a big way as Susser Holdings Corp., the Corpus Christi, Texas operator and fuel supplier said it has signed a definitive agreement to acquire San Angelo, Texas-based Town &…
terror money laundered through md cstores
U.S. indicts 39 in scheme to funnel money to al Qaeda. A federal grand jury in Baltimore has indicted 39 people in an international money-laundering scheme using an informal currency transfer system known as hawala, the U.S. Justice Department said on Thursday. The defendants and one business face charges including money laundering, conspiracy to bribe…
quiktrip moving into the spring center
The arrangement “will be among the first of its kind in an arena, stadium or entertainment venue,” Tulsa, Okla.-based QuikTrip will open a store in Sprint Center as part of a multi-year partnership with the Kansas City arena, built to host sports and entertainment events. The arrangement “will be among the first of its kind…
chevron supports annual marathon
Company extends sponsorship until 2013. Chevron is keeping people running as it extends its sponsorship contract for the Chevron Houston Marathon, according to runnersweb.com. The Chevron Houston Marathon is the nation’s premier winter marathon, annually attracting participants from all 50 states and more than 30 foreign countries. The race has been going on for 35…
the all candy expo sweetens chicago
Over 20,000 show up for biggest event in candy. The National Confectioners Association (NCA) concluded its annual All Candy Expo yesterday in Chicago. Sponsored by the NCA, the All Candy Expo boasted 2,000 new products from nearly 500 exhibitors from 75 different countries. Top trends driving product releases of 2007/08 included: new flavor fusions focusing…