Susser Holdings Sees Q4 Same-store Merchandise Sales Growth Of About 2.4%

(RTTNews) - Susser Holdings Corp. (SUSS) said that it expects to report Same-store merchandise sales growth of about 2.4 percent for the fourth quarter and 3.0 percent for the full year 2013, with total merchandise sales of approximately $1.1 billion for the year. It expects retail average per-store fuel volume growth of approximately 7.8 percent for the fourth quarter and 5.8 percent for the full year, with total retail gallons of approximately 936 million for the year.

In addition, Susser Petroleum Partners LP (SUSP) noted that it expects to report total gallon growth of about 15 percent for the fourth quarter and 8 percent for the full year, compared to pro forma 2012 results as if SUSP had been in operation for the entire period. For the full year 2013, SUSP expects to report total fuel volume of about 1.57 billion gallons.

Susser Holdings opened nine new large-format Stripes convenience stores during the fourth quarter of 2013. Three smaller stores were closed, a fourth was razed and is being rebuilt on the existing location, and a fifth store was converted to a wholesale dealer location during the quarter.

Susser Holdings and Susser Petroleum Partners completed a sale leaseback transaction for three new Stripes locations on December 23, 2013 for a total cost of $11.9 million. In total, Susser completed transactions for 25 stores in 2013. On January 10, 2014, Susser completed sale leasebacks for five additional stores at a cost of $19.5 million. Since the initial public offering of units in Susser Petroleum Partners was completed in September 2012, Susser has completed sale leaseback transactions for a total of 38 newly-built stores at a cumulative cost of $152.7 million.