-
Lower costs equal higher Q4 profits at Casey’s; store growth planned
Casey’s General Stores Inc. reported increased net income and decreased revenue during the fourth quarter of fiscal 2016.
The retailer also said it plans to build or acquire 77 to 116 new stores, among other goals for fiscal 2017.
In the fourth quarter, Casey’s reported net income of $47.04 million, up 14% from $41.34 million the same period the prior year. Total revenue fell 4% to $1.58 billion, from $1.65 billion. A significant reduction in cost of goods sold offset increases in operating and other expenses, resulting in higher profits.
-
Tech Guest Viewpoint: Megatrends for retail and commerce
Today’s retailers face significant challenges as online increases its share of wallet, mall-based stores stumble, technology requirements mount, and customer engagement remains elusive for many. The business environment is clearly marked by the need to rationalize store counts, headcount, and product count.
As management faces up to these challenges, they seek purposeful justification of expenditures, higher shareholder returns, and greater customer engagement.
