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Deep-fried burritos and chimichangas from convenience store chain Allsup’s are helping its parent company Yesway
steal customers from fast-food chains, even with higher fuel prices, Yesway CEO Tom Trkla said Wednesday.
“A lot of the data that we get from our data providers show that our sales are up and some of their competitors’ sales are down,” he told CNBC. “We infer that we are taking some market share, both from other c-store chains and from other [quick-service restaurant chains] that sell food and compete with our burrito platform.”
Yesway made its public market debut on Wednesday, trading on the Nasdaq Stock Exchange under “YSWY.” It raised $280 million in its initial public offering, pricing shares at $20 for a valuation of $1.21 billion. The stock began trading at $22 a share.
