Jeff Lenard
Jeff Lenard
coast competition east mom open players pop regional strong tends west
There are no strong regional players on the west coast. The west coast tends to be mom and pop stores. It's a lot more open for competition than the east coast.
money
You don?t make your money at the pump, you make it in the store.
gallon gas percent
When gas is $3 a gallon the retailer is responsible for about 4 percent of the cost, but they are getting 100 percent of the abuse.
full good operations starting
The pipelines are also starting operations again, ... It is not full capacity, but that is still good news.
figure gone huge prevent retailers
This week, there's been a huge upswing in retailers who've said, 'Enough. I can't figure out another way to prevent theft,' who've gone to prepay.
gas price values
As the price of gas climbs, people's values decline.
goal matter phone sandwich sell time
We sell time as much as anything. It doesn't matter if it's gas, a sandwich or a phone card. The goal is to sell time.
figure hands increase incredible number require retailers throwing until
There has been an incredible increase in the number of retailers who are throwing up their hands and saying, 'That's it, we are going to require prepay until we can figure out another way,'
cents gallon margin normal per profit retail
There is a 12-cent per gallon normal retail markup. But usually, the profit margin is about two cents a gallon.
pay people seeing trusted uncharted
We're in uncharted territory. We're seeing more people going to prepay than ever before. I think we'll look back on 2005 and say 'Remember when we used to be trusted to pay for our gas?
almost felt increases wholesale
We're in hyperdrive. These wholesale increases are going to be felt almost immediately.
bottle coffee cup figuring gallon selling stores water
Stores are figuring out you make more selling a 12-oz. cup of coffee or a 12-oz. bottle of water than you can selling a gallon of gas.
leave penny people price
People price shop. There is no loyalty. They will leave you for a penny a gallon.
absorb afford anymore dramatic gas hurt increase losses retailers rita stations temporary
There was an increase in thefts immediately, especially with the dramatic increase of prices. After Katrina, there were so many retailers that couldn't absorb losses anymore ... so they went to prepay. They couldn't afford that one drive-off a day that would hurt their gas profits. And with Rita ... we will see more stations go pre-pay, if nothing else, as a temporary solution.