Corporate News

Corporate news affecting the convenience store industry

Sunoco reports fourth quarter results

PHILADELPHIA -- Sunoco Inc. has reported net income of $287 million ($2.12 per share diluted) for fourth-quarter 2005 versus $178 million ($1.24 per share diluted) for fourth-quarter 2004. Excluding a special item, income for the current quarter was $297 million ($2.19 per share diluted). There...

Sale opens up first BP Connect franchising opportunities for retailers

WARRENVILLE, Ill. -- BP Products North America took another stepas reported earlier this week in CSP Daily Newstoward selling off more of its company-owned stores yesterday with the announcement of plans to sell 27 convenience stores in the Orlando/South Florida market. Eighteen of the sites are...

2006 will be best year yet, CEO says

SAN ANTONIO -- Valero Energy Corp. has marked its 10th consecutive quarter of record earnings with net income for fourth-quarter 2005 of $1.3 billion, or $2.06 per share, compared to $489 million, or 88 cents per share, for the same period last year. For the year ended Dec. 31, 2005, Valero's net...

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
Reports 4Q net income of $10.71 billion
But little change downstream
Announces record first-quarter financial results