USA: GPM network increases fuel sales by 12% in second quarter
ARKO Corp, a growing leader in the U.S. convenience store industry, announced financial results for the second quarter ended June 30, 2021.
ARKO Corp completed its 19th acquisition by adding 60 retail convenience stores from the ExpressStop transaction during the quarter, and added 19 net new dealers during the quarter.
Retail fuel margin cents per gallon decreased by 19% to 34.3 cents per gallon; same store fuel gallons sold increased by 11.9%.
Net income for the quarter of $25.6 million compared to $32.5 million for the second quarter of 2020.
“As a testament to the hard work and dedication of our team as well as our multi-faceted growth strategy, during the second quarter, we once again delivered strong financial performance,” said Arie Kotler, Chairman, President and Chief Executive Officer of ARKO.
In this time, they also extended wholesale merchandise agreement with Core-Mark International and expanded coverage to include 1,055 locations, up from 865 previously.
Based in Richmond, VA, GPM was founded in 2003 with 169 stores and has grown through acquisitions to become the 6th largest convenience store chain in the United States, operating or supplying fuel to approximately 3,000 locations
