Casey’s income up 6%, misses expectations
Ankeny, Iowa — Casey’s General Stores said that its net income climbed 6% to $39.3 million in the most recent quarter, fueled by new stores. But rising costs for some commodities cut into its profit margins and its results fell shy Wall Street expectations.
The company’s overall profit margin fell to 14.2% from 17.2%.
Revenue increased 38% to $1.87 billion, largely on new stores. Revenue from gasoline sales rose 47% to $1.38 billion, or nearly three-quarters of total revenue, with the increase mostly due to higher fuel prices.
Casey’s said it plans to keep adding stores through acquisitions and organicallyl. In the past year,it has increased its store count by 132 to 1,665.
Family Dollar goes live TradeStone’s merchandise lifestyle management solution
Gloucester, Mass. — TradeStone Software announced that Family Dollar Stores has gone live with TradeStone’s Collaborative Sourcing and Supplier Community Management solutions. The implementation was done in only 100 days.
“In my years at Family Dollar, I don’t know of an application that’s been up as fast as we got TradeStone up and running," said Scott Zucker, VP IT solutions, Family Dollar Stores, Matthews, N.C.
Family Dollar is in an aggressive growth phase and global sourcing is one of its top strategic initiatives. The discounter has also opened two overseas offices and having a system in place to manage sourcing, in a short time frame, was critical.
— The TradeStone solutions enabled Family Dollar to increase collaboration, not only internally among users with the additional visibility, but within their supplier community as well.
The application has helped Family Dollar drive to a higher level of information, product specifications and objectives with their expanding supplier base.
— Family Dollar was able to use TradeStone’s standardized integration templates to layer and leverage their existing technology investments including Oracle, SAP and Retek without having to go through a "rip and replace" effort.
PriceSmart same-store sales up; opens 29th club
San Diego — PriceSmart’s same-store sales rose 17.7% in August. Total revenue for the five weeks ended Sept. 4 climbed 21.5% to $148.3 million.
PriceSmart also announced that on August 19, 2011 opened its first warehouse club in Colombia. This warehouse club, located in Barranquilla, brings to 29 the total number of warehouse clubs in operation by the company.
PriceSmart, based in San Diego, had 29 warehouse clubs at August’s end. The company runs membership warehouse clubs in Central America and the Caribbean.