Caltex leans on Woolworths to drive retail growth
The revised range for the convenience retail arm of the business has fallen to $275-$295 million in CY18.
However, Caltex is targeting a $120-$150 million uplift in 2018 profits for its convenience retail arm partially through its 15-year partnership with supermarket giant Woolworths, which will see 10-12 Metro stores being opened.
Four Metro sites are slated to open in the first half of 2019, with a larger roll-out occurring in the second half of the year.
The stores will capitalise on the growing demand for easy, quick food, with Caltex noting a 27 per cent increase in take-home food sales over the previous 12 months, as well as a 13 per cent increase in on-the-go foods.
Partnerships with QSR brands such as Boost and Guzman Y Gomez also have proved successful in driving traffic to its sites.
Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.
Inside Retail Polls
The Iconic is offering customers pre-paid postage labels to send old clothes in good condition to charity, rather t… https://t.co/49zjMkOGOH2 hours ago
After Kaufland's shock exit from the Australian market, the question on everyone's lips is why? Here's what indust… https://t.co/MpDbXargpD4 hours ago