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Wednesday, November 04, 2009
Susser Profit Down 5.2%
By Simon Kennedy
MarketWatch Pulse
LONDON -- Convenience store operator Susser Holdings Corp. said Wednesday that its third quarter net profit fell 5.2% to $6.5 million, or 38 cents a share, from $6.9 million, or 40 cents a share, a year earlier. Sales for the quarter declined 27% to $882.1 million, largely reflecting the drop in average retail and wholesale fuel prices. The group said same-store merchandise sales for the quarter rose 4%. Analysts polled by FactSet had been expecting earnings of 26 cents a share. The group cut its guidance for same-store sales growth in 2009 to a range of 3% to 4.5% from a range of 3% to 5.5%. It also cut its merchandise margin forecast for the year.
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