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Casey’s beats Street with Q4 profit, sales; will open 75-113 stores
Ankeny, Iowa – Casey’s General Store beat Wall Street expectations for profit and revenue during the fourth quarter of fiscal 2015. Net income roughly doubled to $41.34 million from $20.94 million, fueled by a drop in cost of goods sold.
Total revenue fell 14% to $1.65 billion from $1.92 billion, but still exceed analyst estimates.
During fiscal 2016, Casey’s plans to build or acquire 75 to 113 stores, replace 10 existing locations and complete 100 major remodels.
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Study: Shoppers prefer convenience over grocery
State College, Pa. - Consumers are spending 5% less time in supermarkets, compared to the previous year. Concurrently, the sixth annual C-Store MegaStudy from VideoMining Corp. found that shoppers' time in convenience stores increased 6% from the previous year.
VideoMining integrates behavioral data with a range of other data sources, including transaction data and exit interviews. In the C-Store MegaStudy, for example, this integration showed a correlation between time in store and average dollar basket size, which grew by 9%.
