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EL DORADO, Ark. — Murphy USA Inc. expects to complete its 300-store refresh program in November, President and CEO Andrew Clyde stated during the company's Nov. 3 earnings call. The company launched the program in 2015.
"It updates the look and the feel. It makes it a better look and feel for the customer and we've been able to demonstrate 1-percent uplift in store fuel volumes as well as our merchandise sales," Clyde said in April 2016. "And because of some of the improvements, we will have lower maintenance costs over a 10-year period."
Other reinvestment programs installing LED lighting, adding super coolers and rolling out a new security system across Murphy's network.
The refresh initiative was prompted by Murphy's realization, after it became a standalone company, that it had underinvested in its network and this lack of investment had begun to show, particularly with the higher than average industry throughput of its locations, according to the company.
"This is a business where you have to continually invest and many of the old legacy sites you see out there, their owners have taken a more invest-and-forget approach. If you want to stay vital in this business, you have to continue to invest," Clyde said.