Last updated on June 13th, 2024 at 05:11 pm
Convenience Store News In Brief…
CST Brands of San Antonio, Texas, owner of Nice N Easy convenience stores in New York and one of the largest independent retailers of motor fuels and convenience merchandise in North America, says its board of directors has authorized management to pursue a potential real estate venture. Through sale/leaseback leverage, the company expects the venture will substantially enhance its new store return on investment. Beginning in 2017, the company expects that new stores will be constructed as build-to-suit locations directly funded by the venture. Since the beginning of 2014, CST has opened more than 100 new stores and secured locations to sufficiently meet its plans to open 120 new stores in the next two years. Additionally, the company plans to open more than 350 units over the next five years. According to CST Brands, “these large stores provide the space for a superior customer experience, expanded merchandise offering and high-value fresh food programs. Built on sites large enough to also accommodate the company’s high-volume fuel business, these stores yield significantly higher returns with a higher percentage coming from less volatile non-fuel margins.”…
Wawa announced that contributions for 2015 topped more than $11.3 million distributed to causes supporting health, hunger and everyday heroes. Overall, The Wawa Foundation has contributed more than $20.4 million since its founding in 2014 and is well on its way to meet its goal of donating $50 million by 2018. In 2015, Wawa and The Wawa Foundation conducted six in-store charity collection campaign periods, with total in-store collections reaching $6.7 million. Each campaign lasted two months, during which donations were collected in all Wawa stores, chain-wide, through donation boxes near the register and through point-of-purchase donations for pre-set amounts scanned at the register. Contributions were distributed as follows—Special Olympics: $485,000; American Red Cross: $489,000; Check-Out Hunger: $556,000 (estimate); Children’s Miracle Network Hospitals: $661,000; United Services Organization Inc.: $773,000; and JDRF: $833,000.
