There's day. on on joining appreciate a us today. this Maura. election Maura everyone I and you, lot Thank morning going
thank you making time for in this to the morning. your we schedule us So be with
through for will the market I to color in then calls. quarter. call, other highlights in of on some I'll briefly more operating few provided detail today's will I a previous third similar During updates and go review the financial Maura what also provide the some the results.
you if review I slide turn of operating to Now results. X, some will our briefly
wholesale was For of XXXX. by our growth fuel XX% gross segment of XX% was an Wholesale $XX.X the gross quarter an to margin. million million, profit increased This $XX.X million the compared million, to third of $X.X in driven the third increase fuel quarter profit increase $XX.X compared to quarter of third XXXX, XXXX. in when or
due store about prior the on time remain the down basis a Our wholesale to gasoline volume last the gallons approximately weeks, X% by Based primarily another fuel business lower quarter weeks for our the based Administration largely third period of wholesale nationally Information volume X% base quarter of X% the If approximately same data, data, period XXXX. EIA Energy volume. acquisition fuel on down was assets from declined for four quarter. to down of it quarter relative during year. compared a for continued of to XXX, challenging data to third X% to recent over year. demand in look the store decline same approximately same our X% demand relative to which X% XXXX the quarter. Nationally, was million at we for for National in the volume On our same offset prior the partially was XXX XXXX, the when approximately volumes occurred
relative fuel the the year. environment to prior level weeks. our By XX year So the prior average Average during fuel weekly performance the We at detrimental the to above retail of start with the quarter. was quarter recent volume prior fuel of obviously weekly was quarter year. finished national retail still weekly fuel price quarter. to high course big weeks in began consecutive prior related. average fuel to nationally weekly approximately decline price. improvement National XX% above But pricing in the volume declined some to on The approximately XX% quarter quarter fuel relative price XX% prices for the relative retail declining the prices margins. strongly entire for aided for price the down A quarter in environment average the we the portfolio, retail essentially our the fuel volume have driver fuel for prices the seen our is the fuel
This have declining a fuel declining fuel in we street are enhanced price product having calls, discussed to fuel stronger margins fuel inventory inventory. As slower reason And street lower due margins. adjust tend to their on slower retail higher for with turning it tends retail prices sites higher and sites volume overall volume to quickly fuel to be adjust that prior down are significant competitors One pricing environments. this price is and environment. price downward. to make for generates
the XXXX the saw gallon and Our wholesale per fuel gallon We for $XX.X reflect of compared reporting third for $X.X this the increase quarter results favorable an quarter our of for increase an this quarter to per XX%. the fuel overall quarter. environment in gallon per margin dynamic margin
favorable discussed, we quarter. driven the this price environment was just As the by for increase fuel
the to decline financial of retail the the think the levels of that be experienced that price viewed this in the timeframe as from quarter quarter January the period year. in prices earlier in on results that I fuel is environment the back February the to the perspective, reversal prices return and fuel year. of year. return With challenging declining quarter also note experienced that this the was price The can it earlier worthwhile for environment of fuel wholesale and rising price fuel
volume operated retail quarter higher sites fuel margin the higher this the sites our associated quarter our fuel company also in as of from and during operated result having last due margin company to third a increased to acquisition completed year. the retail fuel Our benefited
margin rent from our brand due our $XX.X year a dealer sourcing contracts certain increase of Additionally, the previously On million rent, our initiatives. the closed slight the for to base continued sites. better of our the to wholesale and renewal and consolidation costs reopening prior quarter results to benefit to other certain was compared $XX.X million, due
quarter, that we steady incredibly rental an stream and income income to perform mentioned As continues us quarter-after-quarter. last is for our durable
profit to the third during $XX.X of million compared performed also segment as increased XXXX. retail when or Our well the XXX% quarter gross quarter
Our profit motor million same and when increased profit compared our in XXXX. increased fuel million gross the period $XX.X merchandise to gross $X.X
basis, same our approximately the volume retail on for quarter volume X% year-over-year. declined the For store
same quarter In contributed I a pricing early pricing volume. same retail dynamics as company the volume to segment touched the in benefit earlier the was store relative July. profit to environment moderated gross higher sites tend of volume stores sites higher retail retail quarter down that retail our the the result for than fuel declines be motor increased decline. the segment favorable fuel that been the volume store comments. As XX% on segment during was down reviewed quarter year our store my The weekly end Retail our my course the quarter year. over earlier to in prior And environment has wholesale our better operated in volume price retail after year-over-year the X% same although being lower in to extensive company recently I same comments, operated for the of store same approximately period fuel overall prior in X%
For as in period have margins period, fuel fuel the since have been more quarter the retail the end. same generally mixed, costs risen
same sales inside For basis. the on store
X% were up year-over-year approximately same sales year. last relative X% store to basis. sales inside Inside excluding down approximately in the Our cigarettes,
attributable On year. the points sales the store approximately to store X% since a period initiatives changes environment. product quarter to current X% our the have basis margin approximately and undertaken been front, overall mix, mainly we up over was inflationary have to in XX same preserve The prior up in margin margin year-over-year
quarter touched stocks still on supply like. on out the we front levels at chain we last would As higher than are of
progress to see continue We front. some on this
to to done there's return normal still would levels. we what work consider to However, be
to broad while inflation it we've based successful our prices, in costs adjusting demand. see and in product We retail consumer been also does continue weigh on
prior is to it reviewed wholesale calls, fuel remember to important we a As supplies in segment retail variable margin our on segment the have our basis.
retail evaluate the the and profitability it this complete our retail segment. our split confusing We financial retail our So and segments. financial wholesale that realize can reporting results makes to of of difficult sites be between our overall
to more understand modifying segment financial We to our and segment. are the at comprehensive of retail easier view provide looking a reporting
quarter. you will on We next this update
one strong associated overall contributed sites is to retail fuel the considers profitability their margin wholesale greater our even performance, quarter, this locations. these contribution For when financial our and with
assets supply the contracts the we capital. of both geographic market we to to agreed $XX.X in XX assets purchase assets asset an the to stations fuel prospective. metro a highly area. New base accounts that are front, in and plus to price brand complementary pursuant in community sub to region purchase which we service with our acquisition England The certain commission locations. for asset announced concentration The existing a of in third purchase two entered from wholesale the have Boston On quarter wholesaler them are the assets million agreement dealer The working into fuel locations, XX for and consist
have this about unique cash these flow transaction that excited attractive are as assets profiles. term are We long
in only sold cash to transaction sold. estate to The the expect fourth end million for proceeds. properties quarter. with quarter we distributable stated our to is had one quiet close a we we flow. $X.X immediately quarter in front, press real acquisition a the On property we the the accretive since In during rationalization have As our five period release, be expected
quarter strong. overall financial were the results for Our exceedingly
the as and favorable the for I'll owners. the team review. such this to financial solid and producing future, of For and leadership Maura has for are partner challenging at committed leadership on ability partnership demonstrated as value such performance turn to general and by produce in to the strategic earlier that, results a year, of is in result group. quarter. to over the this well-positioned financial executed With outstanding quarters, decisions team the we made the results past detailed or the more capitalize is markets, an term acquisition since Topper an unit markets our ability it remarkable produce long and created The This partnership a several
