...September 20, 2024 FR Refuel LLC's organic growth strategy, including new store openings and customer engagement, will drive sales growth over the next two years. Revenue for the second quarter ended June 30, 2024, increased 7.8% because of new store development along with greater fuel volumes and a 2% increase in comparable store merchandise (inside) sales. The increase in inside sales benefitted from management's focus on efficiency, product mix, higher quality food offerings, and competitive pricing. We anticipate sales will expand 8% in fiscal 2024 because of the addition of nine new stores as well as ongoing good performance in inside sales. We project sales growing by about 5% in 2025 based on the continued expansion of new stores and good customer engagement. FR Refuel's efficiency and cost-improvement initiatives should benefit profitability and offset higher sales, general, and administrative (SG&A) expenses from new store growth. The company's S&P Global Ratings-adjusted EBITDA...
