Caseys Q4 profit up but misses Street
Ankey, Ohio — Casey’s General Stores Inc. reported that its fiscal fourth-quarter profit fell short of expectations due to weak margins on gasoline sales.
The convenience store operator said that it earned $23.1 million for the quarter that ended April 30, up from $22.8 million last year. Revenue increased 13% to $1.75 billion.
Casey’s said that its gas margins were down nearly two cents per gallon compared with last year. However, the company said it was able offset that with strong sales and margin gains inside its stores.
Casey’s, which operates 1,699 stores, said grocery and other merchandise same-store sales increased 8.5% during the quarter. Prepared food and beverage same-store sales jumped 16.8%.
U.S. retail sales dropped 2% in May
New York — U.S. retail sales declined in April and May, pulled down by a sharp 2.2% drop in gas stations sales in both months, the Commerce Department said Wednesday.
But excluding volatile gas station sales, retail sales increased only modestly in May and dipped in April.
Total retail sales fell in April to $404.6 billion, slightly below March’s record level of $406.2 billion and 21.6% higher than the recession low hit in March 2009.
Excluding gas station sales, retail spending rose just 0.1% in May. And retail sales dropped 0.1% in April after a revision by the government.
Americans did spend more in May on big purchases. Sales of cars, furniture and appliances all increased.
Other findings from the May retail sales figures include:
- Clothing and clothing accessories stores’ sales increased 0.9%, seasonally adjusted month-to-month and increased 7.3% unadjusted year-over-year;
- Electronics and appliance stores’ sales increased 0.8% seasonally-adjusted month-to-month and 1.2% unadjusted year over-year;
- Furniture and home furnishing stores’ sales increased 0.4%m seasonally-adjusted month-to-month and 11.4% unadjusted year-over-year;
- Health and personal care stores’ sales decreased 0.1% seasonally-adjusted month-to-month but increased 3.1% unadjusted year-over-year; and
- Sporting goods, hobby, book and music stores’ sales decreased 0.1% seasonally-adjusted month-to-month but increased 9.1% unadjusted year-over-year.
OfficeMax launches eco-friendly business delivery service
NAPERVILLE, Ill. — OfficeMax has launched a new delivery program that reuses and recycles boxes it uses for deliveries to business customers. The new program – Boomerang Box by OfficeMax – is projected to reduce box consumption by 80% among participating businesses.
Boomerang Box by OfficeMax launches this month in Seattle, and will expand nationwide in the second half of 2012. Business participation in the program is free and voluntary for all customers nationwide that are served through OfficeMax’s delivery fleet. The program is also designed for easy use to encourage widespread adoption.
"Every business wants to support more environmentally sustainable practices," said Sue Mills, director, environmental practices at OfficeMax. "With Boomerang Box we’re giving customers an easy, no-cost way to help do that."
Businesses that participate in the Boomerang Box program will have their office supplies delivered by OfficeMax in reusable, stackable delivery boxes that are made from a minimum of 50 percent post-consumer content. Customers need only to save and stack the boxes for OfficeMax’s fleet to pickup with the next order delivery. The cycle continues until the boxes can no longer be reused. Then, OfficeMax will recover the boxes for recycling.