Circle K, the international convenience store chain, is donating a meal to those in need with every fuel transaction, even as the company's own sales have fallen precipitously due to coronavirus.
"We've seen local food bank demand just spike throughout this crisis," CEO Brian Hannasch told Cheddar on Monday. "Circle K is committed to being a part of the solution."
Feeding America, an umbrella organization that helps local food banks secure food, projects a $1.4 billion shortfall in supply over the next six months. The spike in demand comes as upwards of 17 million people have lost their jobs since the coronavirus outbreak hit the U.S. At the same time, federal aid is just beginning to reach people's bank accounts, leaving many Americans in a lurch.
Circle K is partnering with Feeding America to help meet that demand.
The charitable initiative comes as Circle K endures a massive drop in sales. Hannasch said customer visits are down 25 percent, and fuel purchases are down 30 to 50 percent.
"We're trying to stay open," he said. "We're taking a lot of steps to make sure that we protect our employees and our customers."
The company has installed clear barriers between clerks and customers and is aggressively cleaning the retail space each day.
Hannasch said that Circle K is hoping to retain as many employees as possible, particularly in nations without a strong social safety net. The chain has 7,000 sites in the U.S. across 48 states and can be found in more than 20 countries.
"We've really tried to keep people," he said. "In some countries, there are very strong social safety nets, so we have furloughed some people, particularly in Europe. In the U.S., we've put in an emergency $2.50 emergency wage supplement and paid sick leave."
A $1 billion loss from a six-week strike did not crash GM's net income last year, which instead rose 12% — and the automaker expects improvement in 2024, too.
Accrue CEO and founder Michael Hershfield explains why Americans' credit card delinquencies are on the rise, advice on what can help, and the key difference between Boomers and Gen Z when it comes to money.
Senior Economist at Morning Consult Kayla Bruun shares thoughts on what to expect from the Fed's January meeting and where monetary policy is headed, as well as how consumers are faring.
Former Medtronic CEO and author of 'True North' Bill George explains the steps Boeing leadership must take to regain client and consumer trust after 737 Max 9 production was stopped.
Amazon blamed "regulatory hurdles" for calling off its proposed acquisition of robot vacuum maker iRobot. Not even a Roomba could clean up the deal's antitrust scrutiny.
To celebrate Flutter Entertainment's debut on the NYSE, FanDuel CEO Amy Howe shares her thoughts on the company's plans for growth, the future of online sportsbetting, and Super Bowl Sunday.
Investopedia's Caleb Silver shares thoughts on the upcoming Fed meeting, why individual investors are still slightly skeptical, and what he's looking for from mega cap tech earnings.
Season's greetings! Tax season, that is. January 29 is the first day you can file your tax return. We walk you through each step — plus a checklist you can download.
The Q-Collar helps protect athletes from impact-related concussions. Now, the U.S. Army is evaluating if the device could help reduce traumatic brain injury cased by blast weapons.