Corporate News

Corporate news affecting the convenience store industry

Maness, Hennigan, Kelly rise in refining ranks

PHILADELPHIA -- Sunoco Inc. has promoted Joel H. Maness to executive vice president and Michael J. Hennigan and Vincent J. Kelley to senior vice presidents. Chairman and CEO John G. Drosdick said, Joel, Mike and Vince are being promoted to recognize the significant contributions that each of them...

Retailers maximize payback by trimming underperformers

OAK BROOK, Ill. -- For Toot'n Totum Food Stores, Amarillo, Texas, cutting ties with an underperforming store can be a little like juggling two chainsaws and a bowling ball. Because it operates 66 stores within the city limits of Amarillo (pop. 200,000), Toot'n Totum can't afford to create new...

Reports record 2005 4Q, full-year results

SAN ANTONIO -- Tesoro Corp. has reported record 2005 fourth-quarter net earnings of $69 million, or 97 cents per share compared to breakeven results for fourth-quarter 2004. Results for the 2005 fourth quarter included special after-tax charges of $57 million, or $0.81 per share, for tender and...

Sunoco reports fourth quarter results
Sale opens up first BP Connect franchising opportunities for retailers
2006 will be best year yet, CEO says
Cost cuts, product mix, layoffs contribute to revenue growth
GroupRed LLC, the retail environmental design agency, has merged with Colemanbrandworx Worldwide Partnership LLC (CBX).
VERC Enterprises, an operator of independent convenience store/gasoline stations, has named Zeshan Muhammad as manager of its West Bridgewater, Mass., location.
Downstream changes at Chevron