Company News

Casey's Reports Increases

Same-store sales for prepared food, fountain increased 7.1%

ANKENY, Iowa -- Casey's General Stores Inc. has reported September 2010 same-store sales results for stores open for one full year. Same-store sales for prepared food and fountain increased 7.1%, and grocery and other merchandise increased 3.3% in September 2010 compared to September 2009, it said in a filing with the U.S. Securities & Exchange Commission (SEC).

Same-store gasoline gallons sold increased 3.2% in September 2010 compared to September 2009, the company said. The gasoline margin was above the company's fiscal 2011 goal of 13.5 cents per gallon.

The [image-nocss] average retail price of gasoline sold during September 2010 was $2.60 per gallon, it added.

And in a separate SEC filing, Stamford, Conn.-based private investment management firm SAC Capital Advisors LP reported that is has lowered its stake in Casey's General Stores. SAC Capital has a 7.6% stake, which is now 6.2%.

Ankeny, Iowa-based Casey's has more than 1,530 stores in nine Midwestern states, primarily Iowa, Missouri and Illinois. The stores operate under the names Casey's General Store, HandiMart and Just Diesel. The stores carry a selection of food--including freshly prepared foods such as pizza, donuts and sandwiches--beverages, tobacco products, health and beauty aids, automotive products and other nonfood items. In addition, all stores offer gasoline for sale on a self-service basis.

Casey's was recently the target of an unsuccessful hostile takeover attempt by Canadian retailer Alimentation Couche-Tard Inc., Laval, Quebec. (Click here for previous CSP Daily News coverage of Casey's and Couche-Tard.)

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