Industry News

Deal to divest retail network could be worth $2 billion. Arko Corp., parent company of GPM Investments, is planning to divest its convenience-store operations in a deal that could be valued at around $2 billion, according to a Reuters report. Richmond, Virginia-based Arko is working with investment bank Citigroup to sell the package of about 1,500 c-stores that it currently operates, the sources said, requesting anonymity as the discussions are confidential. The company is looking to end its longtime retail expansion strategy amid a slowdown in sales, people familiar with the matter told the news agency. Arko’s shares jumped nearly 14% on the news, before paring some gains to close at $6.65, giving the company a market value of about $770 million, said Reuters. Potential buyers include other convenience-store operators, as well as private equity firms, who have submitted initial bids for the stores, the sources said, cautioning that a deal is…

Last week, we hosted our sold out Down Under Study Tour, with the event a resounding success. With 90 enthusiastic attendees, the two-day tour through Adelaide left attendees with a wealth of new insights and the opportunity to meet and network with industry peers. All attendees were extremely impressed with the level of maturity and offer development in the Adelaide market. The two days were packed with visits to a range of innovative convenience and grocery stores along with the state-of-the-art Drake’s Supermarket distribution centre providing attendees an understanding of the latest store formats and offers, and the chance to witness first-hand how industry leaders are pushing the boundaries of convenience retailing. Each stop was an opportunity to delve deeper into what makes these stores stand out in a competitive market. The highlight of the tour, for many attendees, was meeting and engaging with their industry colleagues. These conversations provided…

Consumers are the big losers in a world where top retailers get ‘sweetheart deals’ while small businesses get confused, advocates say. Debit cards have long been promoted as a replacement to cash. But a complicated system of opaque fee charges has created a multibillion-dollar revenue opportunity for the payments sector and left many consumers paying too much. It is no longer the case that a debit card always attracts lower fees for a customer than a credit card when making a purchase. And if that card is in a digital wallet, stored on a smartphone, the charge could be different again. The issue has become a political flashpoint amid rising cost-of-living pressures, prompting the Reserve Bank to bring forward its review of the system. “The payments system is deliberately opaque and complicated because where that exists there is money,” says Brad Kelly, co-founder of the Independent Payments Forum, which is advocating to reform…

The new classification comes after a request to the Japanese government. Japanese retailer Seven & i Holdings has been classified as core to the country’s national security, according to an updated finance ministry list released today, Reuters reported. The retailer requested the designation last month, saying that “its convenience stores play a critical role in supplying food and supplies in the event of natural disasters. They also provide municipal services, allowing residents to obtain official documents,” reported Bloomberg. The request coincided with Alimentation Couche-Tard’s $38.5 billion buyout offer, which Seven & i has since rejected, saying it was open to further dialogue regarding the offer price. “The classification has raised questions as to whether it is a defensive maneuver,” to hinder the takeover, as core companies require the Japanese Ministry of Finance to vet any share purchases from foreign entities over 10% as a matter of national security, Reuters reported. However, Reuters said that Seven…

Fortune partnered with the global people analytics firm Great Place to Work to compile lists of the best small and medium workplaces in retail, as well as the best large workplaces in retail. Honored on the two lists were three c-store operators: Sheetz Inc., The Spinx Company, and Dash In, a Wills Group company. In the large business category, Sheetz ranked No. 2 while Spinx ranked No. 9. The Wills Group, parent company to Dash In convenience stores, ranked No. 9 in the small/medium business category. Fortune selects its Best Workplaces in Retail rankings by using Great Place to Work to survey employees about their workplace experience. Using its proprietary Trust Index survey, Great Place to Work measures the core of what it knows creates great workplaces—key behaviors that drive trust in management, connection with colleagues, and loyalty to the company. This year, Sheetz followed Wegmans Food Markets on the list but…

On August 29th, we opened a new eco-friendly 7-Eleven store in Fukuoka, Japan! This outstanding wooden building was constructed using mostly locally sourced timber, which helps to regenerate forests and increases carbon absorption. Compared to conventional standard construction methods and materials, the store is expected to reduce carbon emissions by about 15% during both construction and its eventual demolition. We also designed it with new features to generate, store and conserve energy. The store utilizes solar panels, energy-efficient equipment, and a new storage battery system. Combined, this will reduce external power purchases and carbon emissions by approximately 50%. As this store demonstrates, Seven-Eleven Japan is committed to taking on the challenge of creating next-generation stores that are friendly to the environment while supporting the local community. View article source here.