joining appreciate us this Maura. Maura everyone I and you, Thank morning.
in interest for you thank we the your partnership. always, As
During operating provide go second through some financial updates a in today's the review will Maura briefly also color other call, previous detail some the and of what on the trends for the more few then I in results. will to market similar highlights on I I provided will calls. quarter. the
turn you will operating results. of if to Slide Now review some I briefly X, our
For $XX to the of second $XX.X quarter of fuel and the XX% segment when million gross XX% increases increase second or both volume $XX.X the quarter Wholesale quarter compared by XXXX, million, in increased XXXX. an This XXXX. to wholesale of million fuel our of was margin. profit $XX.X was to million driven in gross second growth profit compared
of volume acquisition gallons compared XXXX. for wholesale It when was the the overall XXX.X XXXX, XXXX, to an second volume. largely X-Eleven, assets the of challenging quarter which occurred in due a fuel Our from for million primarily during to increase the fuel X% quarter period of same third quarter was of
was every from you at the quarter, year-over-year week. X week data If gasoline except in the down Administration, demand Information national demand gasoline for Energy look
from quarter in our fuel immune volume declined to prior prices of fuel increase June. year-over-year by primarily gallon the compared increase second to X% after lower gallon in We and volumes following same-site particularly decline of than quarter, aided XX%. per remain period for demand year the as fuel since level per for Moderating peaked gasoline volumes, continued demand lower at in margin national Fuel the in wholesale quarter not saw Our wholesale fuel the increase wholesale year. the a was prior end from the remain prices Overall, May factors. into our about saw the mid-June. was year-over-year. trend. fuel an rose per wholesale the $X.XXX reporting quarter, prices the fuel an same-site volume driven The late at XXXX, fuel for $X.XXX than We sharply in but locations gallon have weekly a our
First, which on supply we variable volume basis. margin company-operated benefited we CrossAmerica's a retail increased sites, from
continue the initiatives, execution to from to benefit certain our sourcing better costs consolidation. as we such Second, due strategic brand of
Finally, we in in higher durable higher margins be realize continue as period variable the overall than conditions a to driving market factors a towards margins. fuel multitude of fuel to shift pre-COVID appear market
type are prices in business. quarters we of environment. The created have results quarter, changes similar difficult rose until steady, some would it not margin that environment For have of and fuel Historically, fuel mid-June. other stronger rent, similar in fuel that second throughout the that had our RBOB solid it of to another leading durability the the market our indicative fact the and overall structural price On frame a the gasoline COVID was of fuel price the are of for quarter margins. wholesale stable time margin part quarter the approximately movement this did
previously rent base $XX.X million slight reopening quarter for the year of to $XX.X of the a sites. the Our to closed certain compared prior million, due increase was
segment Our $XX.X compared million increased quarter, the when XXXX. well the also or to performed during second quarter XX% retail profit as of gross
compared fuel motor in XXXX. profit XX% merchandise gross to and profit the increased same Our rose our when gross XX% period
decline was basis, for X% our in have continued the prior execution generally I the my than of the segment retail This segment year-over-year segment Wholesale performance our the Same-site retail the was lower than assets the a prior for the in pressures For volumes quarter the retail end. for since and strength to experienced we in the volume from be to company-operated weeks volumes our mentioned were level. up same-site nationwide retail year the quality quarter in at retail June though was lower and not immune year volume that and of contrast the year-over-year. our comments. The that indicates overall earlier volume, volume on
prior declines. or the better been retail prior than year than volume more significantly have quarter However, fuel and have offset margins
were a year. on last sales same-site inside down For our to relative X% inside basis, sales
However, overall relative at our store results. sales inside were the on to cigarettes, strong remain pre-COVID X% level basis. sales, year-over-year decline Despite this a sales up quarter, approximately excluding same-site in a COVID the have same-store Year-to-date, durability indicate above channel have that COVID sales and restrictions after shifts XXXX remained XX% of certain approximately are results been sales during our occurred and eliminated.
at On out the in would supply stores front, our than better moderated levels we of are stocks but chain in than are higher quarters like. and prior have still
point have we to of product across generally our these try inflation, categories, year. pass generally We increases of all X% X% price in pricing. some on of merchandise store our increases retail we cost terms increases In to inside receive and certain to seen in expect this at
from XX-pack We behavior buying case, shift as example. have a of for a seen some result Consumers XX-pack, consumer down a prices. higher
closely adjusting our monitoring trends to are these these product ensure consumer offering behaviors. mix We our and product evolving reflects
remember reviewing retail supplies a important it performance, wholesale basis. to the in our retail reminder, financial our segment on is segment a As segment variable margin
So segment apparent sites these to our our segments. in retail the retail wholesale to the looking overall split and retail is financial of and overall not The segment profitability contribution the makes our our margin is fuel profitability that a sites fuel wholesale wholesale in in meaningful isolation. between results at segment recorded
the not the shortages operating commentary. in in due year-over-year. at operating are positive, pressures expenses increased more stores, an to in increased driven having will we a in for retail labor company-operated our addition locations the The to XXX our inflation cost was the her as quarter, overall in which our from our have As is site we which expenses our primarily the X-Eleven part as expenses XX% also in increase of by Maura staffing in increase sites saw review count detail actually to economy. compared expenses a increase the to review the due acute, operating more XXX, average but year. Labor prior
for XX% Our in a $X.X sites G&A due with that costs year-over-year, acquired. primarily to declined acquisition-related decrease expense X-Eleven the quarter million the associated we or
portfolio our part noncore to initiatives, our opportunities divest continue look to As for properties. ongoing and of evaluate we
in quarter, property for For we million the X second $X.X had proceeds. sales
within opportunities. to We on portfolio capital our identified the in recycling pipeline to our execute XXXX have solid process to invest we as growth a opportunities continue of
the I in prior prior improved last and have lower the volumes than period is in has As volume in is trending better, end, the weeks, on year. comments, since the few touched been than my lower the In still year. generally earlier quarter but
volume. However, declining second prior the have environment, crude price decreases generally Store fuel quarter in impact experienced financial significantly fuel remained prices than lower greater and the oil is fuel strong of subsequent in have continued year. the trends sales lower generated the margin the which than have and that of along a
our data slowing. second in not was at posted For July. at announced quarter, latest headwinds, while Despite the The the were of of we partnership. the for decline economic generates CrossAmerica, team that string surprised a the quarters the here, these we for GDP has a solid indicated end in quarter for the portfolio strong results activity
value are and the of across succeed we over I Our returns recent more positioned provide range proof Maura environments. results of well economic executed to that, demonstrate and detailed will turn financial the With financial partnership that the transactions years it had initiatives of in a a to and is for attractive review. wide
