As of Mar 31, 2017, the company operated 1,406 retail locations in 26 states, consisting of 1,152 Murphy USA and 254 Murphy Express sites, principally in the Southwest, Southeast and Midwest US.
In fiscal 2015, the company opened 67 new retail locations. During the first quarter of 2017, the company opened 5 new express sites. Over the next two years, the company expects to build 60-80 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 1,044 of the properties at Walmart locations and an additional 182 Murphy Express freestanding sites, and leased the remaining locations.
As of year-end, more than 1,100 of the 1,401 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)||778||772||666||589||521||475|
|Total gross square feet growth||16.6%||15.9%||13.2%||13.0%||9.8%||10.5%|
|Avg store gross sq ft||600||600||500||500||400||400|
|Avg store gross sq ft growth||10.8%||10.5%||7.1%||7.6%||6.3%||7.0%|