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EARNINGS

May 01, 1987

Dallas-based Southland Corp. posted record first-quarter earnings of $25 million, contrasted with an $88.5-million loss in the 1986 period. Southland operates 8,222 7-Eleven stores, High's Dairy Stores and other convenience units as well as 3,556 outlets offering gasoline and several other businesses including a 50% ownership in Citgo Petroleum Corp. Jere W. Thompson, president and chief executive officer, cited gains connected with Citgo but noted that "convenience store sales for the quarter were only modestly ahead of last year, mainly due to lower gasoline prices."

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