Core Insights - 7-Eleven Canada is set to launch a Tamago Sando Egg Salad Sandwich on March 4, inspired by a popular product from 7-Eleven Japan, featuring cage-free eggs, Kewpie mayonnaise, and shokupan [1][2] Company Overview - 7-Eleven Canada has evolved into a food and beverage destination since its first store opened in 1969, employing over 8,500 team members and serving millions of customers annually [4] - The company is known for its iconic products such as Slurpee®, Big Bite®, and Big Gulp®, and offers a variety of fresh, locally made food items including sandwiches, salads, and baked goods [4] - 7-Eleven Canada operates 550 locations across the country, from Ontario to British Columbia, and is headquartered in Surrey, B.C. [4] Market Context - The introduction of the Tamago Sando is timely due to increasing interest in Japanese culture and travel, with a record 580,000 Canadians visiting Japan in 2024 [2] - 7-Eleven is recognized as a strong consumer brand with significant awareness among travelers and Canadians, positioning it well for this product launch [2]

The company behind 7-Eleven is betting Australia can be a proving ground for global growth, seeking to recreate the Japan-style convenience-store model that made the brand a powerhouse at home https://t.co/WjGUN0aEIK ...

Group 1 - Ridi Stores, an Ohio-based convenience store and car wash company, has acquired McIntosh Energy Co., expanding its network to 18 locations across three states [4][8] - The acquisition includes McIntosh's four retail locations and a standalone fleet fueling site in Indiana, marking Ridi's entry into the Indiana market [4][8] - Ridi has a history of mergers and acquisitions, having acquired at least one convenience store or car wash nearly every year since 2019 [3][6] Group 2 - McIntosh Energy, founded in 1953, will see its MacFood Mart locations rebranded to Ridi's brand in the near future [5] - Ridi will also take over McIntosh's bulk fuel delivery operations and Pacific Price fleet card services as part of the acquisition [5][8] - The deal reflects a trend of smaller retailers exiting the convenience store business, providing opportunities for regional players like Ridi to scale their presence [3][8]

Group 1: Major Tech Infrastructure Issues - A significant wave of technical difficulties affected major platforms including Cloudflare, Amazon Web Services, and Alphabet, with YouTube reporting over 240,000 user outages in the U.S. [2][3][11] Group 2: Monetary Policy and Economic Outlook - The Reserve Bank of New Zealand maintained its Official Cash Rate at 2.25%, indicating a commitment to an accommodative monetary policy to support economic recovery [4][5][11] Group 3: AI Infrastructure Investment - AI startup Anthropic plans to invest at least $80 billion in cloud services from Amazon, Alphabet, and Microsoft through 2029 to support its AI models [6][7][11] Group 4: Corporate Strategic Moves - Lawson is expanding into the Indian market to leverage growth opportunities amid a saturated Japanese retail landscape [8][11] - Santos is implementing a 10% workforce reduction as part of a cost-saving initiative to enhance operational efficiency in the energy sector [9][11]

Core Viewpoint - The SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) offers diversified access to mid-cap American companies with a low expense ratio of 0.03% and a dividend yield of 1.27%, raising questions about the sustainability and growth of these payouts over time [2]. Group 1: Fund Structure and Holdings - SPMD tracks the S&P MidCap 400 Index, featuring over 400 holdings with a focus on economically sensitive sectors like Industrials and Financials, indicating that dividend growth potential is tied to economic expansion rather than stable utility-style payouts [3]. - Ciena Corp (CIEN), the top holding at 1.05%, does not pay a dividend, highlighting that SPMD's income is derived from the overall portfolio rather than individual high-yielding stocks [4]. - Casey's General Stores (CASY), the fourth-largest holding, exemplifies a conservative dividend approach, distributing only 13% of earnings, which allows for significant room to increase dividends as the business grows [5]. Group 2: Dividend Sustainability - Royal Gold (RGLD) illustrates a focus on long-term sustainability, maintaining a low yield of 0.21% with an 8% payout ratio despite high profit margins of 42.5%, ensuring dividends remain secure during commodity price fluctuations [6]. - SPMD's distributions increased from $0.72 in 2023 to $0.80 in 2025, with a consistent history of quarterly payouts since 2005, reflecting a commitment to returning value to shareholders [7].

Core Viewpoint - ARKO Corp. will host a conference call on February 25, 2026, to discuss its financial results for Q4 and the full year ended December 31, 2025 [1][2]. Group 1: Conference Call Details - The conference call is scheduled for February 25, 2026, at 5:00 p.m. Eastern Time [1][2]. - A press release with financial results will be provided prior to the call [2]. - Participants are encouraged to register at least 15 minutes before the start time [3]. Group 2: Company Overview - ARKO Corp. is a Fortune 500 company and one of the largest operators of convenience stores and fuel wholesalers in the U.S. [4]. - The company operates in four reportable segments: retail, wholesale, fleet fueling, and GPM Petroleum [4]. - The retail segment includes convenience stores selling merchandise and fuel products to customers [4].

Core Insights - Mette Uglebjerg, senior vice president of global food and marketing at Alimentation Couche-Tard, will become CEO of Matas Group on May 1 [1] - Uglebjerg has been a key figure in Couche-Tard's foodservice program and marketing since late 2024, previously leading Circle K operations in Europe and managing the Denmark business unit [2] - Her leadership contributed to the integration of GetGo Café + Market's offerings into Couche-Tard's operations, with the Fresh Food, Fast program reaching 6,000 c-stores globally [3] - Uglebjerg's departure will create a leadership gap at Couche-Tard, with no immediate successor announced [4] - Uglebjerg expressed enthusiasm for her new role while acknowledging her commitment to Couche-Tard until her departure [5] - Another executive, Niall Anderton, will also leave Couche-Tard in May to become CEO of Musgrave Group [5]

Financial Data and Key Metrics Changes - Getty Realty reported an annualized base rent growth of nearly 12% in 2025, with AFFO per share increasing by 5% in Q4 and 3.8% for the full year, reaching $20.43, which was at the high end of the earnings guidance [6][20][25] - The company achieved a net income of $1.35 per share for the full year 2025, with FFO for the quarter at $0.64 per share [20][21] Business Line Data and Key Metrics Changes - The portfolio included 1,169 net lease properties with an occupancy rate of 99.7% and a weighted average lease term of 9.9 years [13] - The company invested approximately $270 million in 2025, with a focus on diverse sectors including auto service centers and drive-through quick service restaurants [7][9] Market Data and Key Metrics Changes - Over 75% of the 2025 investment activity was concentrated in top 100 markets across the U.S., with significant exposure in cities like Atlanta, Dallas, and Houston [9] - The company underwrote a record $6.8 billion of potential investments, with 54% focused on non-convenience store properties [15] Company Strategy and Development Direction - Getty Realty aims to diversify its portfolio, with nearly 30% of annual base rent now derived from non-convenience and gas properties [19] - The company is excited about its growth trajectory and plans to continue expanding its relationships and investment opportunities [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the current market conditions and the potential for increased investment volume in 2026, citing a strong start to the year with $100 million under contract [30][31] - The company anticipates maintaining a healthy investment pipeline, with approximately $100 million of investments under contract expected to be funded by the end of 2026 [10][25] Other Important Information - The company closed on $250 million of new unsecured notes during Q4, which will help fund its investment activities [23] - Management transition is underway, with RJ Ryan being promoted to Chief Investment Officer [12] Q&A Session Summary Question: Can you provide more detail on the $100 million investment pipeline? - The pipeline consists of 80% auto service properties, with 80% of the funding being development-related [29] Question: Do you think you can do more investment volume this year relative to last year? - Management is optimistic about the current pipeline and improved cost of capital, indicating a strong start to the year [30][31] Question: How is the cadence of the $100 million investment pipeline expected to unfold? - The majority of the funding is expected to be deployed over the next 12 months, with regular acquisitions occurring within 60-90 days [34] Question: What is driving the increased emphasis on potential sales? - The team is successfully sourcing opportunities and the market appears more active, leading to increased transaction activity [41] Question: Can you provide color on the seven properties sold in Q4? - The dispositions were opportunistic, with some properties sold back to existing tenants and others for tactical reasons [64]

Financial Data and Key Metrics Changes - Getty Realty reported an annualized base rent growth of nearly 12% in 2025, with AFFO per share increasing by 5% for Q4 and 3.8% for the full year, reaching the high end of the increased earnings guidance [6][21] - For Q4 2025, AFFO per share was $0.63, FFO was $0.64, and net income was $0.45 per share [21] - The full year 2025 results showed AFFO per share at $20.43, FFO at $20.34, and net income at $1.35 per share, reflecting a 3.8% increase compared to 2024 [21] Business Line Data and Key Metrics Changes - The company invested approximately $270 million in 2025, achieving an initial cash yield of 7.9% [7] - Significant investments included a $100 million sale-leaseback for a convenience store portfolio and $82.5 million for the construction of collision centers [9][10] - The portfolio included 1,169 net lease properties with a 99.7% occupancy rate and a weighted average lease term of 9.9 years [14] Market Data and Key Metrics Changes - Over 75% of 2025 investment activity was concentrated in top 100 markets across the U.S., with increased exposure to cities like Atlanta, Dallas, and Houston [10] - The company underwrote a record $6.8 billion of potential investments, with 54% focused on non-convenience store properties [16] Company Strategy and Development Direction - Getty Realty aims to diversify its portfolio, with nearly 30% of annual base rent now derived from non-convenience and gas properties [20] - The company is focused on maintaining a healthy investment pipeline, currently consisting of approximately $100 million of investments under contract [11] - The management transition is set to occur with RJ Ryan succeeding Mark Olear as Chief Investment Officer, indicating a continuity in strategic direction [12][13] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the investment pipeline and the potential for increased investment volume in 2026 due to improved cost of capital [30][31] - The company is confident in the health of its portfolio, with full occupancy and strong rent collections [55] - Management noted that the current guidance does not include prospective investment activities, indicating potential for future growth [47][26] Other Important Information - The company reported a net debt to EBITDA ratio of 5.1 times, well within the target leverage range [23] - Fixed charge coverage for the period was 3.8 times, indicating strong financial health [23] Q&A Session Summary Question: Can you provide more detail on the $100 million investment pipeline? - Management indicated that about 80% of the pipeline is focused on auto service properties, with the majority being development funding [29] Question: Do you think you can do more investment volume this year relative to last year? - Management expressed optimism, noting that they are off to a great start with significant opportunities already under consideration [30][31] Question: Can you speak about the cadence of the $100 million pipeline? - Management clarified that about 20% of the pipeline consists of regular acquisitions expected to close within 60-90 days, while development funding will be deployed over the next 12 months [35] Question: What is driving the increased emphasis on potential sales? - Management highlighted active sourcing of opportunities and a more active selling pool in the market as key drivers [40] Question: Can you speak about the dip in coverage? - Management explained that the dip was primarily due to rounding and historical high fuel margins dropping off, with overall tenant health remaining strong [53][55] Question: Can you provide color on the dispositions made in Q4? - Management noted that some properties were sold back to existing tenants for tactical reasons, while others were opportunistic sales [61]

This story was originally published on C-Store Dive. To receive daily news and insights, subscribe to our free daily C-Store Dive newsletter. Dive Brief: Tiger Fuel, a petroleum product distributor based in central Virginia, has connected the car wash and retail loyalty programs at its The Market-branded c-stores, Paytronix announced on Tuesday. Through the integration between the loyalty program from tech company Paytronix and car wash program from CRM Rinsed, customers who subscribe to the TigerWash ...