ARKO Corp. (NASDAQ: ARKO) shares retreated Tuesday on word that its subsidiary GPM broke ground with a New To Industry Handy Mart branded location at 2934 Highway 24, Newport, North Carolina that is scheduled to open later this year. This location is the second announced New To Industry location in process that the Company has announced in the last 30 days.
“We have been very happy with the performance of our Handy Mart stores, which we acquired in November of 2021, and our ability to improve performance at those stores,” said CEO Arie Kotler. “Building upon the strong community ties of the Handy Mart brand in North Carolina, we are very excited to begin construction on our first New To Industry location under the Handy Mart banner since our acquisition, which will showcase many of our new initiatives and offerings in a beautiful and inviting store design. The addition of this new store is just another destination where customers that enroll in our loyalty program, fas REWARDS®, can take advantage of daily, significant savings.”
This location will be a 5,600-square-foot store, featuring delicious food and beverage service options of always fresh bean-to-cup hot and iced coffee, Frazil frozen drinks, donuts, cookies, breakfast sandwiches, Nathan’s hot dogs, Tornados®, fried chicken, cheeseburgers, mozzarella sticks, chicken wings, and, of course, its high-value $4.99 pizza, both take-and-bake and served hot, and $2.99 Tyson chicken sandwich being offered to its enrolled fas REWARDS loyalty members.
ARKO dropped 6.5 cents, or 1.4%, to $4.66.
