US c-store operator Casey’s General Stores has posted a jump in quarterly profits on the back of higher sales.
For Casey’s second quarter ending 31 October, net earnings were US$37.6m, up from $21.7m in the same period last year. Casey’s also reported $0.99 in basic earnings per share for the quarter, compared to $0.51 for the same period a year ago.
Go deeper with GlobalData
Total revenue rose to $1.8bn, up from $1.3bn in the same-year period. Same-store sales rose 5.8% and sales across its grocery category rose 15.8%.
“We are pleased with the second-quarter results, despite the continued challenges impacting our industry,” president and CEO Robert Myers said yesterday (6 December).
The half-year figures show net earnings went up 30% to $77m. Basic earnings per share were $2.02, versus $1.27 in 2010. Sales increased from $2.7bn a year earlier to $3.6bn.
Casey’s, meanwhile, announced a full-year goal to increase the total number of stores by 4-6%. So far the company had acquired 33 stores and built eight new stores.
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“We are on pace to build approximately 30 stores by the end of the fiscal year,” said Myers. “The acquisition environment continues to be active, and we remain optimistic about our long-term opportunities.”
