Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DALLAS-It looks like Big Gulps and Slurpees have beenselling well during this hotter-than-usual summer as7-Eleven Inc.’s domestic same-store sales for grew 5%during the second quarter, on top of a 7.1% increasein the second quarter of 2004.Including the second quarter 2005, 7-Eleven has posted35 consecutive quarters of increased US same-store merchandise sales. Those strong same-store sales propelled total merchandise sales for the quarter to $2.2 billion, an increase of 6.5%.

Revenue and earnings also increased substantially.Total revenues for the second quarter grew 9.1% to$3.4 billion. The chain attributes the growth toincreased sales of fresh food, hot and cold beverages, cigarettes and services.

Specifically, non-carbonated beverage sales were up substantially, according to 7-Eleven president and CEO Jim Keyes. Nutritional drinks such as Gatorade were up 32%, he says, adding that new beverage introductions also kicked sales into high gear. In particular, the new Big Gulp Soda Float, which allows customers to add an ice cream topper to their Big Gulps to create an instant ice cream float, was a big hit. The chain is looking forward to introducing a new Big Gulp Soda in the third quarter, which will allow for the roll-out of a new Big Gulp mug.

“We’re very pleased to report the continued and steady improvements of our financial performance,” Keyes said during the chain’s quarterly earnings call. Second quarter net earnings spiked 20% to $57.2 million, or 45 cents per diluted share, compared to net earnings of $47 million, or 38 cents per diluted share, in the same quarter a year ago. 7-Eleven reaffirmed its annual guidance of $1.12 to $1.16 per diluted share.

During the second quarter, 7-Eleven, which operatesglobally, opened its 28,469th store.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.