Dallas-based 7-Eleven, Inc, the largest chain in the convenience retailing industry, has reported a 1.4% increase in its US same-store merchandise sales for March 2002, on top of 3.8 percent for March 2001.
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Total merchandise sales for March 2002 were US$576.3m, an increase of 1.6% over the March 2001 total of US$567m.
Gasoline sales for March 2002 were US$221m compared to US$233m in the prior year period. Sales decreased 5.1% due to a 17-cent per gallon decline in the average retail price of gasoline year-on-year. The average retail price per gallon for March 2002 was US$1.30, compared to US$1.47 in March 2001. Although sales were lower, the average gallons of gasoline sold per store increased 5% in March 2002, compared to the March 2001 figure.
Year-to-Date Results
The following results compare year-to-date results through March 2002 to the same period last year:
– US same-store merchandise sales are up 3.7% on top of a 3.5% increase for 2001.
– Merchandise sales are US$1,624.9m, an increase of 4.2%.
– Gasoline sales total US$573.8m, a decrease of 14.3%.
– Average gallons sold per store per month have increased 2.6%.
7-Eleven is planning to release Q1 earnings results on Tuesday, 23 April 2002.
