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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 announced its first-ever Innovation Summit, aimed at identifying innovative food and beverage brands for distribution across its 2,600+ stores in 17 states. As the third-largest convenience store and fifth-largest pizza chain in the U.S., Casey's is seeking new brand partnerships to expand its product offerings.
Food and beverage companies can apply online through August 19 for a chance to showcase their products to Casey's merchants. Selected applicants may be invited to attend the in-person Innovation Summit in Ankeny, Iowa, on October 30, 2024. This initiative aligns with Casey's commitment to providing high-quality, affordable products that meet customer needs while offering an unexpected convenience experience.
Casey's (NASDAQ: CASY) has launched its annual Cash for Classrooms Grant Program, inviting customers to round up purchases or donate online until September 3. The campaign supports K-12 public and nonprofit private schools across Casey's 17-state footprint. Since 2020, over 300 schools have benefited, with grants up to $50,000 awarded each year.
The program has raised more than $4 million for students and educators, funding various initiatives including playground improvements, career centers, book vending machines, technology upgrades, and safety equipment. The 2024-25 school year grant application opens in October, demonstrating Casey's ongoing commitment to education and community support.
Casey's General Stores (Nasdaq: CASY) has announced an agreement to acquire Fikes Wholesale, owner of CEFCO Convenience Stores, for $1.145 billion in an all-cash transaction. The net after-tax purchase price is $980 million, considering tax benefits valued at approximately $165 million. This acquisition will add 198 retail stores and a dealer network to Casey's portfolio, expanding its presence in Texas and southern markets. The deal includes 148 stores in Texas and 50 stores in Alabama, Florida, and Mississippi, along with a fuel terminal and commissary. Casey's expects the acquisition to be accretive to EBITDA in the current fiscal year and projects $45 million in annual run-rate synergies upon completing kitchen installations in the acquired stores. The transaction is expected to close in Q4 2024, subject to regulatory approval.
Casey’s General Stores (NASDAQ: CASY) announced the appointment of Maria Castañón Moats to its Board of Directors effective July 1, 2024. Moats will retire from PricewaterhouseCoopers (PwC) on June 30, 2024, before joining Casey’s. Her addition will expand the Board to eleven members. Moats brings over 30 years of public accounting experience and has held notable leadership roles at PwC, including Vice-Chair and Chief Diversity Officer. Casey’s is a Fortune 500 company, operating over 2,600 stores and known for its convenience retail and pizza chain operations.
Casey's General Stores (NASDAQ: CASY) reported its financial results for Q4 and Fiscal Year 2024. Key highlights include a 57% increase in diluted EPS to $2.34 for Q4, with net income rising 55% to $87 million. Inside same-store sales grew 5.6%, with a 41.2% margin, contributing to a 16.2% increase in total inside gross profit to $517.6 million. Fuel same-store gallons sold rose 0.9%, and fuel gross profit increased 15.4% to $253.6 million. For the fiscal year, diluted EPS was up 13% to $13.43, and net income increased 12% to $502 million. The company expanded its store count to 2,658 and recorded a 16% quarterly dividend increase. Casey's aims to grow EBITDA by at least 8% and add 100 stores in fiscal 2025.
Casey's is awarding $1 million through its Cash for Classrooms program to 60 schools in its 17-state footprint. The grants, ranging from $3,000 to $50,000, support educational materials, technology, school equipment, and learning activities. Since 2020, Casey's has awarded over 320 grants to schools. This year's notable grants include $50,000 for a playground in Omaha, $35,700 for book vending machines in Des Moines, and $25,000 for a College and Career Center in Knoxville. The 2024 grant cycle will reopen in the fall. Casey’s operates over 2,600 convenience stores and is a major player in the U.S. convenience and pizza retail market.
Casey's General Stores (NASDAQ: CASY), a leading US convenience store chain, will release its fourth quarter and fiscal year 2024 results after market close on June 11, 2024. The company will hold a conference call and webcast on June 12 at 7:30 am Central to discuss the results. The live webcast will be available on Casey's Investor Relations page, with an audio replay accessible for twelve months. Casey's operates over 2,600 stores and ranks as the third-largest convenience store chain and fifth-largest pizza chain in the US. The company offers freshly prepared foods, quality fuel, and friendly service across its locations.
Casey's (NASDAQ: CASY) has launched new BBQ Pulled Pork menu items just in time for summer. The offerings include a BBQ Pulled Pork Pizza and King’s Hawaiian® Pulled Pork Sliders, both featuring Sweet Baby Ray's® barbecue sauce. The BBQ Pulled Pork Pizza, priced at $16.99, features a made-from-scratch dough topped with mozzarella, slow-smoked pulled pork, bacon, cheddar cheese, red onion, and thick-cut pickles. On National BBQ Day (May 16), the pizza will be available for $10. The King’s Hawaiian Pulled Pork Sliders, priced at $6.49, come with hand-trimmed, slow-smoked pulled pork on King's Hawaiian® slider buns. Additional summer deals include discounts on large specialty pizzas and various promotions running through September 3. Casey’s operates over 2,600 convenience stores and is the fifth-largest pizza chain in the U.S.
Casey’s announced a new brand campaign, 'It's Not Crazy, It’s Casey’s', emphasizing contemporary convenience, craveable food, and personalized guest experience. The campaign aims to differentiate Casey’s in the convenience store market, showcasing its high-quality food offerings, unique menu options, and value-driven products. The brand positioning highlights Casey’s growth, food innovation, freshly prepared offerings, and the surprising reality of getting restaurant-quality food at a convenience store. With over 2,600 locations across 17 states, Casey’s has expanded into new markets, offering outstanding food, friendly service, and innovative products to its guests.
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