7-Eleven purchases ATM portfolio from American Express

7-Eleven purchases ATM portfolio from American Express

US retail chain 7-Eleven has acquired the ATM portfolio currently deployed in its stores by American Express for $44m.

Jim Keyes, 7-Eleven's president and CEO, says the acquisition will support the company's plans to accelerate growth in the area of financial services

"With our significant customer traffic and convenient locations, control of the ATMs will allow us to better integrate this valuable service into our overall merchandising efforts within the store," says Keyes.

7-Eleven says the acquisition will add approximately $0.02 per diluted share to 2004 earnings and as a result, it is raising its core earnings guidance for 2004 to a revised range of $0.90 to $0.94 and its capital spending guidance to a range of $360m to $390m, up from its previously disclosed guidance of $345m to $375m.

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