CORPUS CHRISTI, Texas,
April 15, 2014 /PRNewswire/
-- 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.
Earnings Conference Call
Susser Holdings and Susser Petroleum Partners will release their
first quarter financial and operating results before the market
opens on Wednesday, May 7. In
conjunction with these news releases, management will hold a
combined conference call the same day at 10
a.m. Eastern Time (9 a.m. Central
Time) to discuss both companies' results. The call
will be broadcast live over the Internet. Investors may
participate either by phone or audio webcast.
By
Phone:
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Dial 480-629-9819 at
least 10 minutes before the call. A replay will be available
through May 14 by dialing 303-590-3030 and using the access code
4680249#.
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By
Webcast:
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Connect to the
webcast via the Events and Presentations pages of Susser Holdings
Corporation's Investor Relations website at
http://investor.susser.com or Susser Petroleum Partners LP's
Investor Relations website at
http://investor.susserpetroleumpartners.com. Please log in at
least 10 minutes in advance to register and download any necessary
software. A replay will be available shortly after the
call.
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Susser Holdings Corporation is a third-generation family
led business based in Corpus Christi,
Texas that operates 630 convenience stores in Texas, New
Mexico and Oklahoma, with
over 580 under the Stripes® banner and 47 under the Sac-N-Pac
banner. Restaurant service is available in over 400 of its stores,
primarily under the proprietary Laredo Taco Company® brand. Susser
Holdings is also majority owner and owns the general partner of
Susser Petroleum Partners LP, which distributes
approximately 1.6 billion gallons of motor fuel annually to
Stripes® stores, independently operated consignment locations,
convenience stores and retail fuel outlets operated by independent
operators and other commercial customers in Texas, New
Mexico, Oklahoma, and
Louisiana.
Forward-Looking Statements
This news release contains "forward-looking statements" which
may describe Susser's objectives, expected results of operations,
targets, plans, strategies, costs, anticipated capital
expenditures, potential acquisitions, new store openings and/or new
dealer locations. These statements are based on current plans and
expectations and involve a number of risks and uncertainties that
could cause actual results and events to vary materially, including
but not limited to: competitive pressures from convenience stores,
gasoline stations, other non-traditional retailers located in our
markets and other wholesale fuel distributors; dangers inherent in
storing and transporting motor fuel; pending or future consumer or
other litigation or adverse publicity concerning food quality, food
safety or other health concerns related to our restaurant
facilities; inability to build or acquire and successfully
integrate new stores; volatility in crude oil and wholesale
petroleum costs; increasing consumer preferences for alternative
motor fuels, or improvements in fuel efficiency; general economic,
financial and political conditions; our dependence on our
subsidiaries for cash flow generation, including SUSP, and our
exposure to the business risks of SUSP by virtue of our controlling
ownership interest; operational limitations imposed by our
contractual arrangements with SUSP; our ability to comply with
federal and state regulations including those related to alcohol,
tobacco and environmental matters; wholesale cost increases
of tobacco products or future legislation or campaigns to
discourage smoking; costs associated with employee healthcare
requirements; compliance with, or changes in, tax laws-including
those impacting the tax treatment of SUSP; dependence on two
principal suppliers for merchandise; dependence on suppliers for
credit terms; seasonality; dependence on senior management and the
ability to attract qualified employees; acts of war and terrorism;
dependence on our information technology systems; severe weather;
cross-border risks associated with the concentration of our stores
in markets bordering Mexico;
impairment of goodwill or indefinite lived assets; and other
unforeseen factors.
For a full discussion of these and other risks and
uncertainties, refer to the "Risk Factors" section of the Company's
most recently filed annual report on Form 10-K and subsequent
quarterly filings. These forward-looking statements are based
on and include our estimates as of the date hereof. Subsequent
events and market developments could cause our estimates to change.
While we may elect to update these forward-looking statements at
some point in the future, we specifically disclaim any obligation
to do so, even if new information becomes available, except as may
be required by applicable law.
Contacts:
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Susser Holdings
Corporation
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Dennard-Lascar
Associates
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Susser Petroleum
Partners LP
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Anne Pearson, Senior
Vice President
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Mary Sullivan, Chief
Financial Officer
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(210) 408-6321,
apearson@dennardlascar.com
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(361) 884-2463,
msullivan@susser.com
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Ben Burnham, Vice
President
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(773) 599-3745,
bburnham@dennardlascar.com
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SOURCE Susser Holdings Corporation; Susser Petroleum Partners
LP