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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) announced participation in the Jefferies Winter Summit on January 20, 2021, at 10:00 am Central Time. This virtual event allows investors to gain insights into the company’s operations and future strategies. Casey’s operates over 2,200 convenience stores across 16 states and ranks as the fourth-largest convenience store retailer and fifth-largest pizza chain in the U.S. The company focuses on providing freshly prepared foods, quality fuel, and friendly service.
Casey's General Stores (Nasdaq: CASY) announced its participation in the ICR Conference on January 13, 2021. The company provided third quarter-to-date fiscal 2021 results, indicating a decrease in same-store fuel gallons by low to mid-teens compared to Q3 2020, while fuel margins remain strong, over 30 cents per gallon. Inside same-store sales showed low single-digit growth, with grocery sales up mid-single digits but a decline in prepared food sales. Operating expenses rose slightly due to COVID-19 related costs. The acquisition of Buchanan Energy is under FTC review but is not expected to materially impact the deal.
Casey’s General Stores (NASDAQ: CASY) has announced the launch of over 100 new private brand snack and beverage products, available in more than 2,300 stores starting January 2021. The expanded assortment includes snacks like chips, jerky, and nuts, alongside recently introduced packaged beverages and bakery items. This initiative aligns with Casey's strategic plan to enhance product offerings based on consumer insights. The updated branding debuted in October 2020, focusing on convenience and quality for a busy customer base.
Casey's General Stores (Nasdaq: CASY) has launched a month-long giving campaign in January, partnering with LIFEWTR to support K-12 public and nonprofit private schools across its 16-state operations. Customers can round up their purchases, with $1 donated for each LIFEWTR drink and Mega Slice purchased, up to $25,000. The company also continues its 'Cash for Classrooms' grant program, offering grants between $1,000 and $50,000 for various educational improvements, with recipients announced in March.
Casey's General Stores (CASY) reported strong financial results for Q2 and six months ended October 31, 2020. Diluted EPS rose to $3.00, up 36% from $2.21 YoY. Fuel gross profit surged 45% with a margin of 35.3 cents per gallon. Inside same-store sales increased by 3.5%, driven by improved sales across various categories. The Board increased the dividend by 6% to $0.34, payable February 15, 2021. Casey's is on track to finalize the acquisition of 94 Bucky’s stores, expected to be earnings accretive in fiscal 2022.
Casey’s General Stores, a leading convenience store operator, announces its '24 Days of Casey’s' campaign to celebrate the holiday season. From December 1 to December 24, daily offers will be available for Casey’s Rewards members through the app, featuring free snacks, drinks, and BOGO deals. Participants can win a $500 cash prize, with 24 winners total. The campaign aims to spread joy and includes seasonal beverage options and a DIY Donut Kit. Additionally, Casey’s will donate pizzas to local organizations as part of its 'Slice of Joy' initiative, supporting communities in need during the holidays.
Casey’s General Stores (CASY) will release its second-quarter fiscal year 2021 results after market close on December 7, 2020. A conference call is scheduled for December 8, 2020, at 7:30 AM CST, where the company will discuss these results. Investors can access a live webcast of the event on Casey’s Investor Relations webpage. In addition, Casey’s will participate virtually in the Stephens Annual Investment Conference on November 17, 2020, at 3 PM CST. The company operates over 2,200 convenience stores and is a key player in the U.S. retail market.
Casey’s General Stores (CASY) has announced its agreement to acquire Buchanan Energy, owner of Bucky’s Convenience Stores, in an all-cash deal worth $580 million, netting to $500 million after tax benefits. The purchase includes 94 retail locations and adds to Casey’s expansion into Illinois and Nebraska, raising its store count to over 2,300. The company anticipates $23 million in annual synergies by the third year post-acquisition, asserting that the deal is aligned with its strategic plan to enhance EBITDA growth and improve customer experience.
Casey’s General Stores (NASDAQ: CASY) is launching a fundraising initiative throughout November to support veterans and their families. Customers can contribute by rounding up their purchases and by participating in special offers, including a $1 donation for every large pizza and 2-liter Pepsi bought, with a total goal of $50,000. The initiative supports organizations like Hope For The Warriors and Children of Fallen Patriots, which provide scholarships and assistance to military families. Casey’s will also offer free coffee on Veterans Day, November 11, across over 2,200 locations.
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