Eight weeks into 7-Eleven’s acquisition of Mobil's retail fuels business, the transformation of stores is well underway
December 7, 2010
Increased sales, improved retail store design and atmosphere are some of the initial results as the first Mobil retail stores are converted to 7-Eleven.
Eight weeks into 7-Eleven’s acquisition of Mobil’s retail fuels business, the transformation of Mobil stores is well underway with six stores already converted and another six aimed for completion by the end of December.
7-Eleven Chief Executive Officer, Warren Wilmot, says all converted stores are generating a higher gross profit and sales are already heading skywards.
“Only two weeks after the first store, Clifton Hill (Victoria), was converted, the store achieved double digit percentage increase in retail sales compared to average sales for the same period before the conversion,” Wilmot says.
“Additionally, we have also seen an increase in customers who visit the store just to purchase merchandise in all converted stores,” he says.
The convenience store giant expects to convert most of the Mobil sites by the end of 2011.
The new sites are expected to take the number of 7-Eleven stores from 400 to more than 650.
“Based on the initial results we have seen, we are very excited about the potential for the business once all the conversions are completed,” Wilmot adds.