Casey’s ends fiscal year with strongest results in company’s 53 year history
ANKENY — Revenue for Casey’s General Stores in its just-concluded fiscal year reached $8.7 billion.
Casey’s CEO Darren Rebelez said “in the midst of the most challenging business environment of our lifetimes,” that is an “astounding” figure.
“Casey’s ’21 Fiscal Year yielded the strongest results in our 53-year history,” Rebelez said.
Rebelez said Casey’s adjusted what it stocked inside its stores more than a year ago, selling less grab-and-go food while selling more PPE and groceries. He said there was also higher demand for beer and alcohol as restaurants and bars closed and people began consuming more alcohol at home. In February, March and April of this year, in-store sales were up 13%.
“We’re now seeing recovery in our prepared food and fountain business as the world moves toward normal traffic patterns,” Rebelez said. “Guest traffic is rising and we’re seeing a resurgence in pizza slices, dispensed beverages and bakery as our guests return to their normal daily routines.”
Retail gas sales dropped throughout the country during the pandemic and the decline is shown on Casey’s ledger, too.
“We finished the year down 8.1% in same-store gallons sold,” he said, “with an all-time high fuel margin of 34.9 cents per gallon.”
That record fuel margin pushed Casey’s profits from fuel sales up nearly 24%. Casey’s share price ended the fiscal year 18% higher than the previous year.
Casey’s employs 40,000 people and operates more than 2,100 convenience stores in 16 states.