8-KRegulation FD

CASEYS GENERAL STORES INC 8-K Report, Regulation FD Disclosure (Mar 13, 2008)

Filed March 13, 2008For Securities:CASY

Summary

Casey's General Stores, Inc. (CASY) filed an 8-K on March 13, 2008, to report its same-store sales results for February 2008. The filing indicates a mixed performance for the company during the period. While same-store gasoline gallons sold saw a decrease of 2.4% year-over-year, the gasoline margin exceeded the company's fiscal 2008 goal. On a more positive note, sales of grocery and other merchandise, as well as prepared food and fountain items, showed strong growth. Grocery and other merchandise same-store sales increased by 9.9%, and prepared food and fountain sales grew by an impressive 15.2%. It is important for investors to note that approximately 4-5% of this growth in each category can be attributed to the extra day in February 2008 compared to the prior year's February.

Key Highlights

  • 1February 2008 same-store gasoline gallons sold decreased by 2.4% compared to February 2007.
  • 2Gasoline margin in February 2008 was above the Company's fiscal 2008 goal of 10.7 cents per gallon.
  • 3The average retail price of gasoline sold in February 2008 was $2.92 per gallon.
  • 4Same-store sales of grocery and other merchandise increased by 9.9% in February 2008 compared to February 2007.
  • 5Prepared food and fountain same-store sales increased by 15.2% in February 2008 compared to February 2007.
  • 6The extra day in February 2008 accounted for approximately 4-5% of the same-store growth in both merchandise and prepared food/fountain categories.

Frequently Asked Questions

The primary purpose of this 8-K filing was to report Casey's General Stores, Inc.'s same-store sales results for the month of February 2008, providing an update on key performance indicators to investors.

In February 2008, same-store gasoline gallons sold decreased by 2.4% year-over-year. However, the gasoline margin was favorable, exceeding the company's fiscal 2008 goal, and the average retail price of gasoline was $2.92 per gallon.

The key drivers of sales growth were within the non-gasoline categories. Grocery and other merchandise same-store sales increased by 9.9%, and prepared food and fountain same-store sales saw a significant increase of 15.2%. Investors should note that an extra day in February 2008 contributed about 4-5% to this growth.

No, the information contained in this Form 8-K is being furnished and is not deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934, nor is it subject to the liabilities of that Section. It also won't be incorporated by reference into other filings unless expressly stated.