Inaugural industry study shows Atlantic Canadian convenience stores employ 16,500 and generate $1.6 billion in tax revenues each year



    MONCTON, NB, June 17 /CNW/ - Convenience stores may be small, but they
pack a big economic punch for Atlantic Canada. The conclusion is drawn by the
first Atlantic Convenience Stores Association (ACSA) Industry Report, a
macro-economic study released by the ACSA and carried out by HEC Montréal in
collaboration with PricewaterhouseCoopers and noted financial firm Desjardins.
    "This report demonstrates how important convenience stores are to
Atlantic Canadians and the sizeable impact our industry has on the local
economy," said Mike Hammoud, President, Atlantic Convenience Stores
Association. "We're in every community, in every neighbourhood, serve every
demographic and are entrusted by government to sell more age-restricted
products than any other retailer. We're unique. There isn't another retail
industry like ours. If we can leave people with one message from today it's
that the contribution of convenience stores to job creation, the public purse
and entrepreneurship is an exceptional one and must be preserved."

    
    Report Highlights:

    -   Canada has 23,500 convenience stores with 2,373 in Atlantic Canada

    -   10.4 million Canadians shop in a convenience store each day - we
        serve approximately twice the population of Canada each week

    -   Atlantic Canadian convenience stores employ 16,500 people and
        generate over $3 billion in annual sales

    -   Atlantic Canadian convenience stores pay over $200 million in
        salaries each year, make $2.7 billion in purchases from Canadian
        suppliers and generate nearly $1.6 billion in tax revenues to
        government

    -   Atlantic Canadian Convenience stores sell nearly $3.5 billion in
        lottery tickets each year
    

    "Convenience stores are key players in the Canadian economy (...),
essential to governments in the sale of controlled products and in the
collection of all sorts of taxes. They also play a crucial role in the chain
of activities that enables businesses to reach consumers." - Convenience
Stores of Canada Industry Report

    Industry harmed by tobacco smuggling

    The report also stressed the fragility of an industry in which growth is
curtailed by the dramatic increase in tobacco smuggling that every year
deprives convenience stores of close to $2 billion in revenues and $260
million in profits and deprives governments of $1.3 billion in taxes. In 2008,
contraband played a significant role in the closure of 166 convenience stores
in Atlantic Canada.





For further information:

For further information: Media inquiries: Mike Hammoud, President,
Atlantic Convenience Stores Association, (902) 880-9733 or John Perenack,
(416) 238-2576, perenack@room-40.com (quick response)

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ATLANTIC CONVENIENCE STORES ASSOCIATION

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