Murphy USA plans to speed up store openings

The retailer expects to add 30 to 35 new and renovated convenience stores this year.

Murphy USA Inc. will focus on expanding its store footprint as well as refurbishing its current convenience stores as part of its strategy for this year.

As revealed during the company’s earnings call for the first quarter of 2024, plans include growing both the Murphy USA and QuickCheck brands. During the quarter, the firm opened three new-to-industry stores and has since opened one new location sporting the Murphy USA brand with two more set to be opened in the next weeks.

On the other hand, the company had to close down three QuickCheck stores that didn’t offer fuel.

According to a report by Convenience Store News, Gallagher Jeff, Executive vice president and chief financial officer at Murphy, stated that these new-to-industry sites act as "a significant driver of EBITDA growth over time." 

There are currently 22 rebuilding projects underway and nine new-to-industry stores, with construction set to begin in May and June of this year. This will allow the company to open between 30 and 35 new stores this year, a step up from its 28 openings last year.