Susser Provides Second Quarter 2013 Operating Results Update

CORPUS CHRISTI, Texas, July 16, 2013 /PRNewswire/ -- Susser Holdings Corporation (NYSE: SUSS) and Susser Petroleum Partners LP (NYSE: SUSP) today provided partial operating results for the second quarter and first half of 2013. 

Susser Holdings expects to report:

• Same-store merchandise sales growth of approximately 2.2 percent for the second quarter and 3.2 percent for the first six months of 2013.
• Retail average per-store fuel volume growth of approximately 5.5 percent for the second quarter and 4.9 percent for the first half of 2013.

New Locations Update

Susser Holdings opened six new large-format Stripes® convenience stores during the second quarter and closed one smaller store.  For the full year, the company has opened a total of 10 new stores and closed two.  The company currently operates a total of 567 Stripes stores, of which 362 include a restaurant. 

A sale leaseback transaction of two new stores was completed on June 17 for a total cost of $8.0 million.  This latest sale by Susser Holdings to Susser Petroleum Partners brings the total number of new-build store sale leasebacks to 20 since the initial public offering of units in the Partnership in September 2012 at a cumulative cost, including final cost true-ups, of $81.5 million.

Ten new contracted sites were added in the wholesale segment, and six sites were discontinued in the second quarter for a total of 583 contracted branded sites as of June 30, consisting of 95 consignment locations and 488 other independent branded dealer contracts.

Earnings Conference Call

Susser Holdings and Susser Petroleum Partners will release their second quarter financial and operating results before the market opens on Wednesday, August 7. In conjunction with these news releases, management will hold a combined conference call the same day at 10 a.m. Eastern Time (9 a.m. Central Time) to discuss both companies' results.  The call will be broadcast live over the Internet.  Investors may participate either by phone or audio webcast.

Susser Holdings Corporation is a third-generation family led business based in Corpus Christi, Texas that operates over 565 convenience stores in Texas, New Mexico and Oklahoma under the Stripes® banner. Restaurant service is available in approximately 360 of its stores, primarily under the proprietary Laredo Taco Company® brand. Susser Holdings also is majority owner and owns the general partner of Susser Petroleum Partners LP, which distributes over 1.5 billion gallons of motor fuel annually to Stripes® stores, independently operated consignment locations, convenience stores and retail fuel outlets operated by independent operators and other commercial customers in Texas, New Mexico, Oklahoma and Louisiana.

Forward-Looking Statements

This news release contains "forward-looking statements." These statements are based on current plans and expectations and involve a number of risks and uncertainties that could cause actual results and events to vary materially.

Factors that could impact Susser Holdings include, but are not limited to: competitive pressures from convenience stores, gasoline stations, other non-traditional retailers and other wholesale fuel distributors; volatility in crude oil and wholesale petroleum costs; increasing consumer preferences for alternative motor fuels, or improvements in fuel efficiency; seasonal trends; severe or unfavorable weather conditions; cross-border risks associated with the concentration of Stripes® stores in markets bordering Mexico; inability to build or acquire and successfully integrate new stores; ability to comply with federal and state regulations including those related to environmental matters, the sale of alcohol and cigarettes and employment laws and health benefits; dangers inherent in transporting motor fuel; pending or future consumer or other litigation; wholesale cost increases of tobacco products or future legislation or campaigns to discourage smoking; litigation or adverse publicity concerning food quality, food safety or other health concerns related to Stripes® restaurant facilities; dependence on two principal suppliers for merchandise; dependence on suppliers for credit terms; dependence on senior management and the ability to attract qualified employees; acts of war and terrorism; risks relating to substantial indebtedness and dependence on subsidiaries for cash flow generation; dependence on information technology systems; impairment of goodwill or indefinite lived assets; and other unforeseen factors. Factors that could impact Susser Petroleum include, but are not limited to: Susser Holdings' business strategy, operations, risks and conflicts of interest with Susser Petroleum; ability to renew or renegotiate long-term distribution contracts with customers; changes in the price of and demand for motor fuel; dependence on two principal suppliers; competition in the wholesale motor fuel distribution industry; seasonal trends; increased costs; ability to make acquisitions; environmental laws and regulations; dangers inherent in the storage of motor fuel; reliance on Susser Holdings for transportation services; and other unforeseen factors.

For a full discussion of these and other risks and uncertainties, refer to the "Risk Factors" section of Susser Holdings' annual report on Form 10-K for the year ended December 30, 2012 and subsequent quarterly reports on Form 10-Q as well as the "Risk Factors" section of Susser Petroleum's annual report on form 10-K for the year ended December 31, 2012 and subsequent quarterly reports on Form 10-Q. These forward-looking statements are based on and include our estimates as of the date hereof. Subsequent events and market developments could cause our estimates to change. While we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if new information becomes available, except as may be required by applicable law.

SOURCE Susser Holdings Corporation; Susser Petroleum Partners LP