OPERATIONS

Stater Bros. names senior operations executive

BY Katherine Boccaccio

San Bernardino, Calif. — Stater Bros. announced Monday that it has promoted Dan Meyer to EVP retail operations, charging him with oversight of retail operations for all 167 Stater Bros. supermarkets and the corporate training center.

A 42-year veteran of the company, Meyer most recently served as SVP retail operations.

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OPERATIONS

Report: C-store saw traffic bumps in 2012

BY Katherine Boccaccio

Houston — A report released Tuesday by research company NPD Group found that the convenience store sector experienced marked gains last year, as visits increased 4.6% in the fourth quarter and grew an average of 3.7% per month for 2012.

Traffic gains were spread among all type of c-stores, according to NPD’s Convenience Store Monitor, which tracks the consumer purchasing behavior of more than 51,000 convenience store shoppers in the U.S.

Traditional c-store traffic increased 0.7%, major oil chains garnered a 3.2% growth, and small/other chains had the strongest growth in traffic at 11.5% compared to the year-ago quarter.

The afternoon daypart, between 2 p.m. and 6 p.m., continues to be the most popular daypart with slightly more than 35% of c-store shoppers visiting then, a 1.7% increase over same quarter a year ago. In addition, the afternoon daypart realized a nearly 10% growth in traffic in the quarter.

Ticket averages increased as well, as consumers spent 31 cents more in fourth quarter 2012, compared to 2011.

“Although the c-store channel outlook is positive for 2013, it remains to be seen if this continues and carries on through the coming year,” said David Portalatin, NPD c-store industry analyst. “2013 is starting out a bit challenging for consumers with the realization of the imposed payroll tax increase, severe weather, and rising gasoline prices all providing added stress, but we’ll see how the remainder of the year shakes out.”

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FINANCE

Capital One and Best Buy part ways

BY Katherine Boccaccio

McLean, Va. — Capital One Financial Corp. said Tuesday that it will sell off its Best Buy portfolio of private-label and co-branded credit card accounts. Current loan balances total about $7 billion.

The pair is severing their ties earlier than expected – the break-even sale of the portfolio to Citi is expected to finalize in third quarter 2013.

"We have a proven, scale partnerships infrastructure and a great portfolio of partners," said Bill Cilluffo, EVP, card partnerships, Capital One. "Our partnerships business continues to deliver strong contributions to our results and serves as a platform for future growth potential.”

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