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Casey’s beats Street with Q2 profit gain, plans 72-108 new stores

12/11/2014

Ankenny, Iowa – Casey’s General Stores Inc. beat Wall Street expectations with net income of $49.89 million in the second quarter of fiscal 2015, up 21% from $39.43 million the same period the prior year. Growth of cost of goods sold did not keep pace with growth of sales, aiding the retailer’s profit.



The retailer plans to build or acquire 72 to 108 stores and replace 25 existing stores by the end of the fiscal year. Casey’s currently has 26 new and 14 replacement stores under construction, as well as nine store acquisitions, 44 new sites, and 31 replacement sites under contract to purchase.

Total revenue equaled $2.15 billion, a 6% increase from $2.01 billion. Same-store sales rose 11.1%.



“The company is in excellent position to meet our expansion goal,” said Robert J. Myers, CEO. “We are pleased with the initial performance of our recently acquired chain of stores in the Fargo, North Dakota area, and our pipeline of new store construction sites is very full.”
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