Susser Holdings loss widens in Q1

Corpus Christi, Texas C-store operator Susser Holdings Corp. said Tuesday that its first-quarter net loss widened as operating expenses increased.

Susser reported a net loss of $5 million for the three months ended March 29, compared with a loss of $931,000 a year earlier.

Revenue climbed 38% to $938.1 million and same-store sales increased 2.5%.

CEO Sam L. Susser said it "appears we have turned the corner, based on the steady rebound we've seen in merchandise sales and margins as the first quarter has progressed."

Susser operates more than 525 convenience stores in Texas, New Mexico and Oklahoma primarily under the Stripes and Town & Country brands.