C-stores sales rise, profits drop

This press release from the National Association of Convenience Stores has some interesting stuff in it.

Sales were up last year, to $577 billion. Although that was only a 1.4% increase, the channel more than tripled sales, from $174 billion, in the ten years from 1997. Pretty impressive.

Pretax profits dropped from $4.8 billion to $3.4 billion (which is only a bit over 0.5%). Not so impressive. The NACS points out that rising credit card fees account for most of the profit drop. Fees were up $1 billion, to $7.4 billion -- more than double the profit figure.

Lots of interesting stats, in case you're wondering how your local Kwik-E-Mart makes its money. (Hint: It isn't from gas -- gross margins are ten cents a gallon).