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Casey’s improves net income 24% in Q2; plans 70-105 new stores annually

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Ankeny, Iowa – Casey’s General Stores’ net income rose more than 24% during the second quarter of fiscal 2014, to $41.3 million from $32.8 million. The company also boosted revenue 5% to $2.01 billion from $1.91 billion.

Casey’s annual goal is to build or acquire 70 to 105 stores and replace 20 existing locations. Through the first six months of fiscal 2014, the company has built 14 new stores and acquired an additional 22, and also completed 14 replacement stores as well as 19 major remodels. Casey’s currently has 34 new stores and 14 replacement stores under construction, as well as five stores under written agreement to acquire.

“For the second quarter, total inside sales were up 15.5%, and total gasoline gallons sold increased 9.8% compared to the same quarter a year ago,” said chairman and CEO Robert J. Myers. “The company is pleased with the growth and customer count lift associated with the various initiatives we have put in place.”

© 2014