NACS (Alexandria, Va.) has released the NACS State of the Industry Report of 2007 Data, the convenience industry’s premier benchmarking tool with a comprehensive collection of firm-level, store-level and category data and trends based on the c-store industry’s 2007 performance.
According to the report, overall convenience store sales hit grew 1.4 percent to reach $577.4 billion. Inside the store, revenues grew 3.0 percent to reach $168.5 billion. On a per-store basis, combined in-store sales surpassed hit a record $1.3 million per store, with merchandise revenues hitting $1.1 million and foodservice revenues reaching just over $200,000.
While revenues increased, so did expenses. Credit card fees continued to burden retailers in 2007, costing the industry a staggering $7.6 billion – a 15.2 percent increase over the $6.6 billion in card fees in 2006.