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7-ELEVEN, INC. REPORTS 2004 THIRD QUARTER RESULTS;
POSTS 10.8% INCREASE IN TOTAL REVENUE TO $3.3 BILLION;
ACHIEVES 11.7% INCREASE IN CORE EARNINGS
Third Quarter 2004 Highlights:
|||Reported core earnings of $43.9 million, or $0.35 per diluted share, an 11.7 percent increase over third quarter 2003|
|||Achieved total revenue increase of $317.1 million, or 10.8 percent, to $3.3 billion|
|||Increased total merchandise sales by $110.0 million, or 5.4 percent, to $2.1 billion|
|||Produced a 4.2 percent increase in U.S. same-store merchandise sales|
|||Improved merchandise gross profit by 7.5 percent to $770.8 million|
|||Grew total gasoline gallons by 5.2 percent to 576.5 million; gasoline gross profit at $82.8 million with a 14.4 cent per-gallon margin|
|||Reduced debt by $410 million compared to third quarter 2003|
|||Announced acquisition from American Express of ATM portfolio in 7-Eleven stores|
DALLAS, October 28, 20047-Eleven, Inc. (NYSE: SE), the largest chain in the convenience retailing industry, today reported that core earnings, which exclude non-operating items, grew to $43.9 million, or $0.35 per diluted share, for the quarter ended September 30, 2004. This compares to core earnings of $39.3 million, or $0.33 per diluted share, for the third quarter of 2003. Third quarter net earnings for 2004 were $44.9 million, or $0.36 per diluted share, compared to net earnings of $25.9 million, or $0.22 per diluted share, in the same quarter a year ago.
EARNINGS SUMMARY (Unaudited)
($ in millions)
Three Months Ended
The following information was filed by 7 Eleven Inc on Thursday, October 28, 2004 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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