Fourth-quarter merchandise margin is expected to be in a range of 33.7% to 34%, and retail fuel margin is expected to be 14.7 cents to 15.1 cents per gallon. Wholesale fuel margin is expected to be 4.9 cents to 5.3 cents per gallon for the fourth quarter.
For the full year, the company expects to report same-store [image-nocss] merchandise sales growth of approximately 4% and retail average per-store-per-week fuel volume growth of approximately 2.5% year-over-year. Merchandise margin is expected in a range of 33.5% to 33.7%.
Retail fuel margin is expected in a range of 18.3 cents to 18.5 cents per gallon, and wholesale fuel margin is expected to be 5.2 cents to 5.4 cents per gallon for the full year 2010.
Susser opened seven new retail stores during the fourth quarter, closed three and converted three to wholesale dealers for a total of 526 retail stores operated at the end of the year. Four large-format retail stores are currently under construction, the company said.
In its wholesale segment, Susser added 51 dealer sites and discontinued three during the fourth quarter, for a total of 431 as of the end of the year, including a previously announced acquisition completed in October. On October 11, Susser completed the acquisition of 39 long-term fuel supply agreements to wholesale dealer sites in Texas and Oklahoma. As part of the transaction, the company also acquired one convenience store in Houston in September 2010, which will be rebranded to Stripes. This transaction was funded with cash.
Corpus Christi, Texas-based Susser Holdings is a third-generation, family-led business that operates convenience stores in Texas, New Mexico and Oklahoma primarily under the Stripes banner. Restaurant service is available in more than 310 of its stores, primarily under the proprietary Laredo Taco Co. brand.
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