As of Jun 30, 2018, the company operated 1,454 retail locations in 26 states, consisting of 1,159 Murphy USA and 295 Murphy Express sites, principally in the Southwest, Southeast and Midwest US.
In fiscal 2017, the company opened 45 new retail locations. During the first half of fiscal 2018, the company opened 8 net locations. Over the next two years, the company expects to build 30-50 new stores per year in core markets on or near Walmart locations and is evaluating opportunities for additional growth beyond those locations.
At year end, the company owned 1,158 of the properties at Walmart locations and an additional 288 Murphy Express freestanding sites, and leased the remaining locations.
Nearly all Murphy USA's owned retail sites in operation at year end were situated on prime locations in close proximity to Walmart stores. Traditionally, most stores averaged approximately 200-300 square feet, with a limited amount of 1,200 square feet and large-format (2,000-3,500 square feet) sites. Going forward, the majority of new stores will be built in the 1,200 square foot small store format or the 208 square foot kiosk format.
|Total gross square feet (M)||830||821||772||666||589||521|
|Total gross square feet growth||5.9%||6.3%||15.9%||13.2%||13.0%||9.8%|
|Avg store gross sq ft||600||600||600||500||500||400|
|Avg store gross sq ft growth||2.8%||3.0%||10.5%||7.1%||7.6%||6.3%|