Couche-Tard Acquires Shell Sites
Laval, Quebec, Alimentation Couche-Tard has signed agreements to purchase 236 sites from Shell Oil Products U.S. and its affiliate Motiva Enterprises through an indirect wholly owned subsidiary, Circle K Stores Inc. Should the transaction close as expected, the company evaluates that the assets would add approximately 340 million gallons in motor fuel volume sales and approximately $120 million in merchandise sales and contribute to its earnings on an annualized basis. This transaction is expected to close before the end of the 2006.
The company plans to invest approximately $45 million over the next five years, of which $25 million will be invested within the first 18 months to either rebuild or renovate the stores at such sites in accordance with Circle K standards.
Wal-Mart Reportedly Looking to Use More Part-Timers
New York City, Wal-Mart is pushing to create a cheaper, more flexible work force by capping wages, using more part-time workers and scheduling more staff on nights and weekends, The New York Times reported on Monday.
The report said that investment analysts and store managers say Wal-Mart executives have told them the company wants to transform its work force to 40% part-time from 20%. Wal-Mart denies it has a goal of 40% part-time workers, although company officials said part-timers now comprise 25% to 30% of its workers, up from 20% last October, according to The New York Times.
New Duckwall-ALCO Store to Carry Products by Bass Pro Shop
Abilene, Kan., Duckwall-ALCO announced that a new ALCO store will open in November in Girard, Kan. The store will be the company’s first to carry products by Bass Pro Shops. In addition to carrying branded Bass Pro Shops’ hunting, fishing and outdoor gear, the new Girard, Kan., store will also include branded RadioShack products, much like the company’s Abilene, Kan., store.