Six months into the acquisition of Mobil’s retail fuels business, 7-Eleven has converted its 50th store.
7-Eleven CEO Warren Wilmont said the conversion program is moving along as planned.
“We are seeing an overall trend that stores are overtaking their previous year’s performance after an average of six weeks of being converted to the 7-Eleven brand,” he said.
“While every store is different, we are very pleased with the strong growth results in both merchandise sales and profit that we are seeing so early in the life of our new stores.”
More than 50 per cent of the converted stores have been taken up internally by existing franchisees and corporate staff and their family members.
According to Wilmont, the average sales growth in the converted stores is currently running at 5.1 per cent when compared to the previous year’s sales.
“We continue to be on track to convert most of the Mobil sites into 7-Eleven stores by the end of 2011. Based on the results we have seen, we are very excited about the future for our business once all the conversions are completed,” he said.