San Francisco Casey's General Stores reported that its fiscal second-quarter profit rose to $33.6 million, up nearly 23% from $27.3 million in the year-ago period. Meanwhile, revenue fell to $1.15 billion from $1.39 billion last year.
The company said its goal for fiscal 2010 is to increase the total number of stores 4%. At the mid-year point, the company had acquired four stores and completed seven new-store constructions.
“We are pleased with the recent acquisition environment and have written agreements for an additional 16 locations that are scheduled to close in December,” said president and CEO Robert J. Myers. “These stores are a perfect fit with our business model and we anticipate them being accretive immediately.”
The company also replaced 12 locations through the first six months.