Philly-area CEOs challenged by economic uncertainty. Here’s how they’re managing it
Some top leaders say they are relying on strategies they used during the height of the COVID-19 pandemic to manage the current economic uncertainties.
1 month ago
Your browser doesn’t support HTML5 audio
File - Wawa located on Broad and Walnut streets. (Miguel Martinez/Billy Penn)
Have a question about Philly’s neighborhoods or the systems that shape them? PlanPhilly reporters want to hear from you! Ask us a question or send us a story idea you think we should cover.
Wawa has become less ubiquitous in Philadelphia as the local convenience store chain has shuttered nearly a dozen locations inside city limits since 2020.
That includes two stand-alone convenience stores in Northeast Philadelphia closing by the end of the month, according to a Worker Adjustment and Retraining Notification Act letter sent to Pennsylvania officials.
“Over the years, our store design and product [offerings] have changed to meet the ever-evolving needs of our customers,” said Miriam Enriquez, director of government relations and corporate social responsibility, in the letter. “Every year, we evaluate our stores across our chain including performance, conditions, operational challenges, or the possibility to modernize them. At times, we must make the difficult decision to close some of them.”
The 6506 Frankford Ave. store will close April 22, while the 6919 Castor Ave. store will close April 24. One day before the closures, each location will offer free coffee.
Wawa owns the Castor Avenue property and taxes alone are about $20,000 a year, property records show. The company appears to lease the Frankford Avenue store.
The workers were offered jobs at other stores in the region, according to the letter.
Most of the Wawa closures in Philadelphia are concentrated in Center City.
The Media-based company still has 19 stores within city limits and 15 more in the Philadelphia suburbs. Much of its expansion efforts are tied to convenience stores with gas stations and electric vehicle charging hubs.
“Whenever possible, we modernize our older stores rather than close them,” said Lori Bruce, a senior manager of media relations for Wawa, in a recent email. “At the same time, our plans for growth remain strong.”
By the end of 2025, Wawa expects to open 95 new stores, but Philadelphia remains its largest urban market.
“Our commitment and ongoing investments in Philadelphia continue to grow,” Bruce continued.
The 61st anniversary of its first store, located in Folsom, is April 16 — to celebrate, the business is offering free coffee at all 1,100 locations nationwide.
Wawa’s CEO Chris Gheysens recently told a crowd of business professionals in West Chester that consumer spending has slowed in the past 18 months across its footprint.
“What we see in our stores in this region is people are shrinking what they get. I might have gotten three items, but now I’m getting two,” Gheysens said.
Much of that is tied to inflation fatigue, he said.
Subscribe to PlanPhilly
Sign up