With
a refocused, retooled and refined retail division Speedway has been positioning
itself to expand its reach and now, the time has come. MPC (parent of Speedway) President and CEO Gary Heminger
said the Findlay-based company will be allocating capital in the future to
drive growth in businesses with more stable cash flow and higher value. Its
retail division, Speedway LLC, is one such
business.
Today, when looking at Speedway's
numbers, merchandise sales are on pace to reach $3.2 billion, noted Tony Kenney, president of
Speedway LLC. From 2011 to 2013, two-thirds of Speedway's sales have come from
inside the stores. Much like other C-store operators Speedway has focused,
retooled and refined its fresh prepared food offerings and the results are now
paying off.
"Consumers continue to show a
preference to shop in convenience stores," Kenney said, that
they will be targeting both organic growth and, small operators are
under pressure and could offer an attractive opportunity for Speedway.
In Fact Speedway has identified 280
"fill-in" opportunities for organic growth in its existing markets, with
the Chicago, Indianapolis and Louisville areas tapped as key growth markets. In
addition, the company has identified 230 existing stores as candidates for
rebuilds, Kenney detailed.
Success does leave clues and as of
today I do not know of any QSR operator planning on opening 500 U.S. stores in
a defined market? Today’s C-stores
operators are well financed, fresh food focused, and driven by customers
looking for bundled meal solutions. The retail food consumer is evolving are
you?
Outside eyes can deliver inside sales. What are you bundling
with you core products? Who are your customers and where and how can you sell
them more? For more Visit www.FoodserviceSolutions.us or http://www.linkedin.com/in/grocerant or twitter.com/grocerant
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