QuikTrip provides a quick fix for those on the go. QuikTrip (QT) owns and operates more than 615 gasoline/convenience stores in nearly a dozen, mostly in the central US. QT stores, which average 4,600 sq. ft., feature the company's own QT brand of gas and diesel fuel, as well as brand-name beverages, candy, and tobacco, and QT's Quik 'n Tasty and HOTZI lines of sandwiches. QT's 15-plus travel centers offer scales, food, fuel, showers, and other services for truckers. The firm's FleetMaster program offers commercial trucking companies detailed reports showing drivers' product purchases, amounts spent, and odometer readings. QT was co-founded in 1958 by chairman Chester Cadieux. His son Chet runs the firm.
QuikTrip supplies its retail stores with food from its QT Distribution (QTD) subsidiary. More than 70% of the food products sold at QT stores are delivered by QTD, which has warehouses in Arizona, Georgia, and Phoenix.
Tulsa-based QuikTrip operates convenience stores in Arizona, the Carolinas, Georgia, Illinois, Iowa, Kansas, Missouri, Nebraska, Texas, and Oklahoma. Its largest market is Atlanta, home to more than 120 of its 600-plus stores. From its strong base there, fast-growing QuikTrip is expanding into the Carolinas and beyond.
Gasoline accounted for more than half of QuikTrip's $10 billion in fiscal 2012 (ends April) sales. Due to the low margins on fuel sales, QuikTrip relies on pumping lots of gas and on indoor sales to fill its coffers. (On average, a QuikTrip store has 14 to 16 pumps per location to minimize wait time.)
QuikTrip is pursuing an aggressive growth strategy, adding 20 locations between December 2010 and December 2011, for a 3.7% increase in store count. (In 2011, it sold off five convenience stores located in the Springfield, Missouri, metropolitan area to competitor Casey's General Stores.) In 2012 it plans to up the bar, adding stores in the South and Midwest, including growing central Iowa, and the Dallas-Fort Worth area, where it currently operates more than 80 locations. Most of the new stores conform to the company's "Gen 3" format, the chain's newest store design. Gen 3 stores are larger than older QuikTrip stores, have multiple entrances, and offer outdoor seating. To drive indoor sales, QuikTrip, like many other convenience store operators, has turned to food (to make up for declining tobacco sales). After launching QT Kitchens in the mid-2000s, the venture operates five commissaries (in Atlanta, Dallas, Kansas City, Phoenix, and Tulsa) that serve all of the company's stores.
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