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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 General Stores, Inc. (NASDAQ: CASY) reported Q2 financial results for the period ending October 31, 2021. Key highlights include a 6.0% increase in same-store sales and a 12.3% rise in total inside gross profit to $463.4 million. Fuel gallons sold increased by 2.5% with fuel gross profit up 13.6% to $231.9 million. However, diluted EPS declined to $2.59 from $3.00 year-over-year. The company announced plans to acquire 40 stores from Pilot Corporation and has $787 million in available liquidity to support ongoing operations and growth.
Casey's General Stores (NASDAQ: CASY) announces the appointment of Katrina Lindsey as Chief Legal Officer and Corporate Secretary, effective January. She brings over 20 years of legal experience from FORTUNE 500 companies in retail and restaurants. Lindsey previously worked at Office Depot, Darden Restaurants, and Walt Disney Parks and Resorts, where she held various legal leadership roles. This strategic hire aims to enhance Casey's legal, compliance, and risk management functions, supporting the company's growth as the third largest convenience retailer and fifth largest pizza chain in the US.
Casey’s General Stores (NASDAQ: CASY) will release its second quarter fiscal 2022 results on December 7, 2021, after market close. The company will provide insights through a conference call and webcast on December 8, 2021, at 7:30 AM Central. With over 2,300 convenience stores, Casey’s ranks as the third-largest convenience store retailer in the U.S. and is also the fifth-largest pizza chain. The event details will be accessible on the company’s Investor Relations webpage, and an audio replay will be available for 12 months.
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.
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