Corpus Christi-based Susser completed its acquisition of Town & Country on Nov. 13, 2007. The pro forma comparisons reflect the combined results of Stripes and Town & Country stores as if Susser had acquired Town & Country [image-nocss] Food Stores at the beginning of 2007.
For the full year 2008, Susser expects to report an increase in same-store merchandise sales of approximately 6.6% on a reported basis and 7.8% on a pro forma basis, slightly higher than the top end of the company's 2008 guidance for reported same-store sales growth of 5% to 6.5%. Retail average per-store fuel volumes are expected to be up by 2.6% on a reported basis and up 0.1% on a pro forma basis, in line with the company's guidance of 0.0% to 3.0% for fuel volume growth.
During 2008, Susser opened 12 retail stores and closed four, bringing its retail store count to 512 at year-end.
Susser Holdings is a third-generation, family-led business that currently operates more than 510 convenience stores in Texas, New Mexico and Oklahoma under the Stripes and Town & Country banners. Restaurant service is available in more than 290 of its stores, primarily under the proprietary Laredo Taco Co. and Country Cookin' brands. The company also supplies branded motor fuel to approximately 370 independent dealers through its wholesale fuel division.
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