3 Big Numbers is a weekly column that looks at a few key details from around the c-store industry.
Convenience retail has not been a hotbed for newly public companies, but this year is proving surprisingly busy on that front.
Autonomous c-store company VenHub listed on the Nasdaq earlier this year, and rumors continue to swirl around EG Group — excuse me, Cumberland Farms — doing the same later this year. And three major convenience retailers have their own plans for the public markets.
In this week’s “3 Big Numbers,” we’re looking at Arko Corp. spinning out its petroleum arm, Yesway filing for an IPO and 7-Eleven’s plan to list in the U.S.
$200 million
The rough amount Arko Petroleum's IPO brought in.
Arko Corp., parent company of GPM Investments, has been publicly traded since December 2020, according to the company’s website. Earlier this year the company spun out its wholesale arm into its own company, Arko Petroleum.
This business — which includes a wholesale segment, a fleet fueling arm and GPM Petroleum, which supplies fuel directly to GPM Investments’ retail and wholesale sites — issued over 11 million shares at $18 apiece, for a total of just under $200 million.
That’s a lot of money the company can use to boost ongoing initiatives, like Arko’s dealerization strategy, or support new ones.
$888 million
Inside merchandise sales for Yesway in 2025.
It’s impossible to know yet just how much Yesway might pull in from its upcoming IPO, but the company’s S-1 filing has given us a peek at how much the company’s c-stores are pulling in.
According to the filing with the Securities and Exchange Commission, the retailer reached more than $888 million in inside merchandise sales in 2025, a $59 million increase from 2024.
This, in addition to around $1.8 billion in fuel sales, gives the company plenty of cash. Even after expenses, net income was over $54 million, which means Yesway should have plenty of room to pursue its impressive ambitions to open 130 c-stores in the next five years.
This is Yesway’s second try at going public. But with the markets in better shape this time, the odds seem to favor success.
$470 million
7-Eleven’s North American operating income during its fiscal third quarter.
7-Eleven’s 2026 IPO is the most speculative of the three outlined here, with no paperwork yet public. But the company has been saying it plans to spin off its North American arm into its own company for more than a year.
The initial plan was to go public the latter half of this year. While we may learn more in the company’s next earnings report in the coming weeks, the company’s most recent earnings indicate it’s on solid footing.
Parent company Seven & i reported Q3 operating income of 74.9 billion yen, which equals around $470 million at current exchange rates. Revenue for this segment in Q3 was about $12.8 billion at current conversion rates.
7-Eleven has been focused on controlling costs, so if it can funnel more of that revenue down to the bottom line, prospective shareholders will be very happy.
