Dive Brief:
- Yesway has revealed plans to have at least 15 convenience stores in Oklahoma by the end of the year, more than doubling the seven stores it has in the state today, according to a Monday announcement.
- The retailer recently opened its sixth and seventh c-stores in Oklahoma and has two more slated to open in the first quarter of 2024, according to the announcement. The company will also soon begin construction on three more locations and expects to have 12 total by this summer.
- Yesway’s expansion in Oklahoma underscores its broader growth plans, which include doubling its footprint to roughly 900 c-stores over the next five years.
Dive Insight:
Oklahoma is one of three states Yesway is targeting for growth over the next several years, with the others being Texas and New Mexico, CEO Tom Trkla said in an interview last year. Yesway’s 2023 growth was spearheaded by $190 million in equity the company raised to fund its expansion plans, which included opening 28 stores in those three states.
One highlight of Yesway’s latest growth plans in Oklahoma is its new Allsup’s c-store in Thackerville, which is the company’s “first true interstate store,” according to Monday’s announcement. The 6,277-square-foot location, open 24 hours a day, is expected to garner most of its traffic from drivers on Interstate 35.
The upcoming stores Yesway is building in Elk City, Blanchard and Kiowa will also be in this large-scale format, according to the announcement.
In addition to these solidified plans, the convenience retailer is still searching for additional sites where it can open new stores in Oklahoma, Chief Real Estate Officer Thomas Brown said in the announcement.
"In Oklahoma, we realized that many of its towns were underserved with a good convenience store operator that is focused on customer service and providing quality product with a strong value proposition; customers have long requested Allsup's in those communities, and we are excited to bring our new stores there,” Brown said.
Fort Worth, Texas-based Yesway currently operates 435 Yesway and Allsup’s c-stores in nine states — Texas, New Mexico, South Dakota, Iowa, Kansas, Missouri, Wyoming, Oklahoma and Nebraska.
Correction: An earlier version of this article incorrectly stated Thomas Brown’s title with Yesway.
