ALEXANDRIA, Va. — The convenience-store industry saw record pretax profits in 2019 as in-store sales reclaimed a healthy piece of the channel’s sales, growing 4.4%, while fuel sales continued a slow decline, down 3.9%, according to preliminary State of the Industry data from NACS and CSX.
“We’ve reached an all-time high of $11.9 billion in pretax profits” vs. $11.0 billion in 2018, said Charlie McIlvaine, chairman and CEO of Coen Markets Inc., Canonsburg, Pa., during a look at top-line data in a NACS digital presentation. “This is a very significant level to achieve. This was driven in part by the strong fuel margins we’ve experienced, but it also shows a very positive impact from merchandise and foodservice sales.”
Here’s an infographic look at some of the data points revealed in NACS’ SOI Virtual Experience, launched April 14.
The 2020 NACS State of the Industry Summit Virtual Experience is now available for on-demand viewing. Access critical benchmarking data, analysis, emerging trends and executive insights at convenience.org/SOISummit.