Last week Midwestern convenience store chains Casey’s General Stores, Inc. announced financial results for the three and nine months ended January 31, 2021.
Third Quarter Key Highlights
- Casey’s private label surpassed 3% of grocery and other merchandise share at quarter’s end.
- Diluted EPS of $1.04 compared to $0.91 for the same period a year ago, an increase of 14%.
- Fuel gross profit increased 37% with a fuel margin of 32.9 cents per gallon. Fuel same-store gallons sold decreased 12.1% compared to the same period last year.
- Inside same-store sales increased 2.1% compared to prior year with a margin of 39.6%.
- Digital sales increased 95% compared to prior year. Casey’s Rewards now exceeds 3.3 million members.
“Casey’s grew diluted earnings per share in the third quarter despite a challenging, COVID-19 impacted environment,” said Darren Rebelez, President and CEO. “The Company advanced several initiatives in our grocery and other merchandise category that contributed to positive inside sales volume in the quarter and investment in our fuel capabilities yielded favorable results. We continue to effectively manage discretionary operating expenses while investing in our team members’ and guests’ safety. Our balance sheet remains strong, and we are committed to executing our long-term strategic plan.”