Susser Holdings swings to Q2 profit; plans 17 new stores

Corpus Christi, Texas – Susser Holdings Corp. reported net income of $12.3 million in the second quarter of fiscal 2014, compared to a net loss of $4.3 million in the same quarter a year earlier. The elimination of a debt refinancing charge helped bring Susser back to profitability.

Susser plans to open 17 new Stripes convenience stores by the end of the year. The company also is is on track to merge with Dallas-based natural gas and propane company Energy Transfer Partners (ETP) in the third quarter of fiscal 2014.

Second quarter consolidated revenues were $1.87 billion, up 20% from $1.56 billion in the second quarter of 2013. Same-store sales rose 4%, aided by a shift in the Easter holiday.

 

Recommended stories

Login or Register to post a comment.