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Casey's General Stores Inc (CASY) is a leading convenience store chain in the Midwestern United States. Founded in 1959 by Don Lamberti in Des Moines, Iowa, the company has grown from a single store into a network of over 2,500 convenience stores across several Midwestern states. Casey's stores offer a wide range of products, including self-service gasoline, grocery items, and freshly prepared foods such as pizza, donuts, and sandwiches.
One of Casey's key strengths is its integrated supply chain. The company operates its own distribution centers, which ensures timely and efficient delivery of products and fuel to its stores. This vertical integration not only reduces costs but also helps maintain consistent product quality. Additionally, Casey's owns the majority of its real estate, including stores, distribution centers, and various facilities, thereby reducing rental expenses and increasing operational flexibility.
Casey's stores are strategically located in small and rural communities, primarily with populations of fewer than 5,000 people. This focus allows Casey's to cater to underserved markets, providing essential goods and services where they are most needed. The company's stores are known for their cleanliness, well-maintained facilities, and excellent customer service.
In recent years, Casey's has been actively modernizing its operations. The company has introduced various digital initiatives, including a user-friendly mobile app and an online ordering system, to enhance the customer experience. These efforts have been well-received, leading to increased customer engagement and sales growth.
Financially, Casey's continues to perform robustly, with consistent revenue growth and strong profitability. The company has also embarked on several strategic partnerships and acquisitions to expand its market presence and diversify its product offerings. These initiatives align with Casey's long-term vision of becoming the preferred convenience store brand in the Midwest.
Casey’s (Nasdaq: CASY) has achieved significant recognition for its commitment to gender diversity, with 50% of its board members being women. This achievement was honored at the Women’s Forum of New York’s ‘Breakfast of Corporate Champions’ event. Casey’s stands out as a leader among S&P 500 and FORTUNE 1000 companies, showcasing its dedication to promoting women in leadership roles. The Women’s Forum recognized Casey’s as an essential stakeholder in gender equity, highlighting the company's continued efforts towards achieving gender parity on its corporate board.
Casey’s is launching an in-store giving campaign from now until November 30 to support Hope For The Warriors and Children of Fallen Patriots. Guests can round up their purchases to donate, join the Hero Deal by purchasing specific products, or use the hashtag #HereForVets on social media to further contribute. Last year, Casey’s raised over $1.4 million for these organizations, impacting numerous military families. Veterans will receive a free cup of coffee on Veterans Day.
Joywell Foods, a company focused on sweet plant proteins, has appointed Ali Wing as its new CEO. Wing, who has a robust background in consumer goods and healthcare, previously served as Chief Consumer Officer at Bright Health (NYSE: BHG) and is an independent Director at Casey’s General Stores (NASDAQ: CASY). She aims to enhance Joywell's market presence by commercializing sweet proteins, which are significantly sweeter than sugar while being lower in calories. Joywell will sample their sweet protein popsicles at various events in the Bay Area starting October 28.
Casey’s partners with IRI to enhance its retail measurement and analytics capabilities. This collaboration will integrate point-of-sale and loyalty program data from Casey’s Rewards, benefiting over 4 million members. Merchants and suppliers will have access to a new portal for data that helps optimize product assortment, pricing, and promotions. This initiative aims to increase traffic, revenue, and profitability, while providing real-time insights into consumer behavior. The portal will utilize the IRI Liquid Data platform for streamlined data access.
Casey's Cash for Classrooms grant program is now accepting applications for 2022, running from October 1 to November 30, 2021. The initiative supports K-12 education projects in Casey’s communities, building on last year’s $1 million awarded across 99 grants. Grants range from $3,000 to $50,000 for various educational needs, including pandemic-related changes. Awards will be announced in February and March of 2022, with more details available at caseys.com/community.
Casey’s General Stores (NASDAQ: CASY) has announced its acquisition of 40 Pilot convenience stores for $220 million. This all-cash transaction will enhance Casey’s presence in Tennessee and Kentucky, particularly in the Knoxville area. The acquisition aims to integrate high-performing stores into Casey’s fresh food program, highlighting their handmade pizza offerings. The deal is expected to be funded through cash and bank financing, pending regulatory approvals.
Casey’s has introduced its first-ever handmade breakfast lineup at over 2,300 stores, featuring the Signature Handheld, Loaded Breakfast Burrito, and Loaded Breakfast Bowl. These offerings are designed for convenience, catering to busy morning routines. A recent survey indicates that 70% of Americans consider breakfast essential, with many seeking quick solutions. Additionally, Casey’s is promoting its new bean-to-cup coffee and celebrating the 20th birthday of its iconic breakfast pizza with special discounts. Promotions include a free coffee with purchases and discounts on breakfast pizza.
Casey's General Stores (CASY) reported strong first-quarter financial results for the period ended July 31, 2021. Inside same-store sales rose 8.0% with total gross profit increasing 16.7% to $463.5 million. Fuel gallons sold also grew by 9.0%, boosting fuel gross profit by 11.6% to $234.5 million. However, diluted EPS slightly decreased to $3.19 from $3.24 due to higher depreciation expenses from operating 166 additional stores. The company announced a dividend increase to $0.35 per share for the 22nd consecutive year and maintained its fiscal 2022 outlook.
Casey's General Stores (NASDAQ: CASY) plans to release its first quarter fiscal 2022 results post-market close on September 7, 2021. A conference call and webcast will follow on September 8 at 7:30 AM Central Time, allowing stakeholders to review the quarterly results. The live event will be available on Casey’s Investor Relations webpage, with an audio replay accessible for twelve months thereafter.
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