Lower margins from gas sales have hit half-year profits at US c-store retailer Casey’s General Stores.
Net income fell 6.7% to US$71.9m for the six months to the end of October despite higher sales.
Go deeper with GlobalData
Casey’s pointed to lower margins from fuel sales compared to a year ago when gas margins were at an “all-time high”.
Competition and a tax increase in Illinois has hit cigarette sales and depressed sales form Casey’s grocery and other merchandise business.
However, second-quarter same-store sales of prepared food and fountain increased 10.1%. That said, Casey’s is targeting an increase of 11% in its current financial year
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
