Circle K owner Alimentation Couche-Tard has offered a “friendly proposal” to acquire the Japanese operator of 7-Eleven in a move that could mark major consolidation of the global convenience channel. If successful, the combined entity would become one of the largest retail businesses in the world.
A controversial Tennessee bill to ban the sale of cold beer has been withdrawn. A bill to permit time-bound price discounts on alcohol beverages at on-premise retailers has passed both houses of the Indiana Legislature.
The convenience channel is the strongest channel for beer, accounting for more than half of category dollar sales, according to NIQ data shared by 3 Tier Beverages.
Convenience store retailers had a “slightly more pessimistic outlook” for beer trends in Goldman Sachs’ Q2 Beverage Bytes survey, citing “broader economic pressures/fears of recession, impacts from cooler weather” and the continued “negative impacts from the recent Bud Light controversy.”
Although beverage sales growth has remained steady throughout Q1 2023, convenience retailers showed some trepidation for the months ahead by lowering their annual sales growth projection to +4.6% in the latest Beverage Bytes survey from Goldman Sachs Equity Research.
FoxTrot believes convenience stores and corner markets need a makeover, and now it has more cash to make that a reality. The retailer announced Tuesday that it has raised $100 million to help expand into new markets and to invest into its e-commerce business.
