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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 reported strong financial results for the three and nine months ended January 31, 2023. Diluted EPS rose 56% year-over-year to $2.67, aided by a $0.31 benefit from a one-time legal expense reduction. Inside same-store sales increased by 5.6%, with total inside gross profit climbing 11.6% to $450.6 million. Total fuel gross profit also rose 10.4% to $262.6 million despite a slight decline in same-store fuel gallons sold. Operating expenses surged by approximately 5%, although a one-time legal matter relief helped manage costs. Casey's anticipates same-store inside sales growth of 6% to 7% for the fiscal year.
Casey’s partners with Monster Energy to combat food insecurity, aiming to provide 10 million meals for children and families from now until April 4. The initiative will benefit 53 Feeding America® food banks across 16 states where Casey's operates. Casey's guests can contribute by rounding up their purchases, donating during online orders, or participating in the 'Buy a Meal, Give a Meal' campaign. The campaign underscores the ongoing challenge of food insecurity, particularly among rural communities, where approximately one in eight children are at risk of hunger.
Casey’s (NASDAQ: CASY) introduces the limited-time PEPPERONI PEPPERONI PEPPERONI pizza, enhancing their menu with three types of pepperoni, catering to fans during the busy basketball season. This pizza features made-from-scratch dough, marinara sauce, and mozzarella cheese for a bold taste. Available exclusively to Casey’s Rewards members from today, it will fully launch on March 1 until June 20 for $16.99 per large pie. Customers can also add an eight-count order of chicken wings for just $5 with any large pizza. To support this launch, Casey’s has engaged Tombras as their new marketing agency.
Casey’s General Stores, Inc. (Nasdaq: CASY) is set to release its third quarter fiscal 2023 results on March 7, 2023, after market close. A conference call and webcast will follow on March 8, 2023, at 7:30 AM Central. With over 2,400 locations, Casey’s stands as the third-largest convenience store chain and the fifth-largest pizza chain in the U.S. The company is known for freshly prepared food, quality fuel, and excellent service. Investors can access the live and recorded webcasts through Casey’s Investor Relations page.
Casey’s General Stores (Nasdaq: CASY) provided a business update ahead of its upcoming roadshow. For the third quarter, same-store inside sales are projected to increase by 5-7%, while same-store fuel gallons are expected to see a flat to 2% rise. Fuel margins remain stable compared to the previous quarter. Notably, the company received a $15 million one-time payment from resolved legal matters, positively impacting operating expenses. This payment was not included in prior guidance. Overall, the company's performance aligns with expectations, though expense growth is projected near the low end of the annual 9-10% range.
Salesforce (NYSE: CRM) announced that Casey's General Stores has enhanced customer engagement and revenue through its CRM technology. By consolidating marketing efforts, Casey's sent over 1 billion messages to 5.5 million rewards members. Utilizing the Genie Customer Data Cloud, Casey's now manages over 13 million customer profiles, driving 30% of digital revenue from Salesforce-activated channels. Art Sebastian, Casey's VP, expressed confidence in future growth, highlighting improved internal efficiencies and customer connections. The partnership with Salesforce helped modernize Casey's brand and streamline operations.
Casey's General Stores (CASY) reported strong financial results for the second quarter and six months ending October 31, 2022. Diluted EPS rose 42% to $3.67, with inside same-store sales increasing 7.9% year-over-year. Total inside gross profit was up 8.9% to $504.5 million, while fuel gross profit surged 22.7% to $284.4 million. Operating expenses increased 7.7% due to the operation of 83 additional stores and higher credit card fees. The company updated its fiscal 2023 outlook, now expecting same-store inside sales growth of 5-7% and operating expenses near the low end of previous estimates.
Casey’s has launched its annual holiday promotion, “24 Days of Casey’s Rewards,” offering special daily deals for Rewards members from December 1 to December 24. Each day, users of the Casey’s app can access exclusive offers, including free snacks, drinks, and bonus points. The loyalty program allows guests to earn points on purchases that can be redeemed for discounts or donations. Additionally, Casey’s introduces a new seasonal coffee flavor, Toasted Butter Pecan, and promotes its handmade pizza for holiday meals.
AtoB and Casey’s have partnered to reduce fuel costs for fleet drivers. Starting immediately, AtoB card holders save
Casey’s General Stores (Nasdaq: CASY) will release its second quarter fiscal 2023 results on December 6, 2022, after market close. A conference call will take place on December 7 at 7:30 AM Central, where the quarterly results will be discussed. Investors can access a live webcast on Casey’s Investor Relations page, with an audio replay available for twelve months. As a leading convenience store chain with over 2,400 locations, Casey’s continues to provide quality fuel and freshly prepared foods alongside a variety of snacks and beverages.
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