Tuesday, May 26, 2009
According to a survey conducted by Convenience Store News, first quarter numbers were surprisingly positive for c-stores around the nation. The Economic Pulse Survey asked stores to provide information regarding their sales over the same period in the previous year. A similar survey was conducted in December of 2008 to collect data from Q3, and yielded some depressing statistics. Nonetheless, the past two quarters (Q4-2008 and Q1-2009) were markedly positive.

CS News attributed the swing in gas prices to the successes and disappointments in c-store business. As prices plummeted in Q4-2008, stores recouped most of their expected profits for the year. Q1 of this year, then, started off on a very positive note. As the recession seems to be affecting nearly ever other industry, convenience stores are so far proving immune to the symptoms.

Stores remain optimistic for Q2, as well, but there's is no doubt that there is much trepidation surrounding the imminent rise of gas prices over the summer travel season. Still, an economist from Purdue predicts that gas won't come close to $4.00/gal. that we saw last summer. If this holds true, we may see an overall strong year in store for c-stores.

Labels: Convenience Stores, Economy

posted by Unknown at 5:21 AM Link to this Article