United Group Insurance

Casey’s ends fiscal year with strongest results in its 53 year history

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June 12th, 2021 by Ric Hanson

(Radio Iowa) – Revenue for Casey’s General Stores in its just-concluded fiscal year reached eight-point-seven BILLION dollars. Casey’s C-E-O Darren Rebelez says in the midst of the most challenging business environment of our lifetime, that’s an astounding figure. “Casey’s ’21 Fiscal Year yielded the strongest results in our 53 year history,” Rebelez says.

Rebelez says Casey’s adjusted what it stocked inside its stores more than a year ago, selling less grab-and-go food while selling more P-P-E and groceries. He says there was also higher demand for beer and alcohol as restaurants and bars closed and people began consuming more alcohol at home. In February, March and April of this year, Rebelez says in-store sales were up 13 percent.

“We’re now seeing recovery in our prepared food and fountain business as the world moves toward normal traffic patterns,” Rebelez says. “Guest traffic is rising and we’re seeing a resurgence in pizza slices, dispensed beverages and bakery as our guests return to their normal daily routines.”  Retail gas sales dropped throughout the country during the pandemic and the decline is shown on Casey’s ledger, too. “We finished the year down 8.1% in same-store gallons sold,” he says, “with an all time high fuel margin of 34.9 cents per gallon.”

That record fuel margin pushed Casey’s profits from fuel sales up nearly 24 percent. Casey’s share price ended the fiscal year 18 percent higher than the previous year. Casey’s employs 40-thousand people and operates more than 21-hundred convenience stores in 16 states.