The threat of digital obsolescence has left the convenience store category untouched and investors should take note, says Hanley Investment Group’s Jeremy McChesney.
What retailer sells the most USA Today newspapers, cold single-serve beer, cold single-serve bottled water, cold Gatorade bottled drinks and lottery tickets, and has the largest network of ATMs of any retailer in the US? If you guessed 7-Eleven, you’d be right. The convenience store formula of companies like 7-Eleven and Circle K is satisfying the consumer craving for instant gratification and impulse purchases. It’s also nourishing the portfolios of net-lease investors, according to Hanley Investment Group EVP Jeremy McChesney.
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