Stripes Opens A Record 29 Stores in 2013

stripesSusser Holdings reports on Q4 and total 2013 operating results.

Susser Holdings Corp. and Susser Petroleum Partners LP have provided partial operating results for the fourth quarter and full year 2013.

Susser Holdings expects to report:

• Same-store merchandise sales growth of approximately 2.4% for the fourth quarter and 3% for the full year, with total merchandise sales of approximately $1.1 billion for the year.

• Retail average per-store fuel volume growth of approximately 7.8% for the fourth quarter and 5.8% for the full year, with total retail gallons of approximately 936 million for the year.

Susser Petroleum Partners (SUSP) expects to report total gallon growth of approximately 15% for the fourth quarter and 8% for the full year, compared to pro forma 2012 results as if SUSP had been in operation for the entire period.  For the full year 2013, SUSP expects to report total fuel volume of approximately 1.57 billion gallons.

New Locations Update
Susser Holdings opened nine new large-format Stripes convenience stores during the fourth quarter of 2013.  Three smaller stores were closed, a fourth was razed and is being rebuilt on the existing location, and a fifth store was converted to a wholesale dealer location during the quarter.

For the full year, the company opened a record 29 new stores and closed, rebuilt or converted eight stores.  As of Dec. 29, the company operated a total of 580 Stripes stores, of which 373 include a restaurant.

Susser Holdings and Susser Petroleum Partners completed a sale leaseback transaction for three new Stripes locations on Dec. 23, 2013 for a total cost of $11.9 million.  In total, Susser completed transactions for 25 stores in 2013.  On Jan. 10, 2014, Susser completed sale leasebacks for five additional stores at a cost of $19.5 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 38 newly-built stores at a cumulative cost of $152.7 million.

Eight new contracted sites were added in the wholesale segment in the fourth quarter, and four were discontinued for a total of 591 contracted branded sites as of Dec. 31, 2013, including 99 consignment locations and 492 other independent branded dealer contracts. Susser added a total of 32 new dealer sites in 2013, and discontinued 20.


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