Valero 2011 Annual Report Download - page 19

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19 | VALERO ENERGY CORPORATION 2011 SUMMARY ANNUAL REPORT | 19
Average volume per site is up 23 percent during the past
four years.
Inside-store sales also continue to grow, with overall sales
up 8.75 percent, and gross profits up 6.2 percent. As with
our U.S. operations, we continued to invest in our Canadian
operations, with a total of $32 million in capital spending on
new sites, redevelopments, remodels and new dealers. Our
Canadian retail operations have a solid track record of
27 percent to 55 percent return on capital employed over
the past five years.
Ultramar’s home heat business volume declined slightly
to 95.2 million gallons, from 96.2 million gallons the year
before, reflecting an unusually warm winter. Fuel margin
improved to 55.9 cents per gallon, up from 53.9 cents per
gallon in 2010.
Year after year, our constant goal in retail is to win every
customer, every day, by setting new standards in retail
excellence.
During 2011, in the U.S., Valero completed six new-to-industry stores, 85 remodels
and 18 carwash upgrades, and acquired two stores …We continued to invest in our
Canadian operations, with a total of $32 million in capital spending on new sites,
redevelopments, remodels and new dealers.
SETTING NEW STANDARDS
FOR RETAIL EXCELLENCE