Summary
This Form 8-K filing by Casey's General Stores, Inc. (CASY) on April 15, 2009, provides an update on the company's same-store sales results for March 2009. The report indicates positive performance in key revenue drivers, with notable increases in prepared food and fountain sales, as well as grocery and other merchandise sales. Despite a slight increase in gasoline gallons sold, the company managed to maintain a gasoline margin above its fiscal 2009 target.
Key Highlights
- 1March 2009 same-store gasoline gallons sold increased by 1.2% compared to March 2008.
- 2Gasoline margin for March 2009 exceeded the Company's fiscal 2009 goal of 10.8 cents per gallon.
- 3Average retail price of gasoline sold in March 2009 was $1.87 per gallon.
- 4Same-store sales for prepared food and fountain increased by 6.4% in March 2009 year-over-year.
- 5Same-store sales for grocery and other merchandise increased by 10.5% in March 2009 year-over-year.
- 6The company experienced significant cost increases on cigarettes from suppliers during March 2009.
- 7Approximately 4-5% of the increase in grocery and other merchandise sales was due to retail price adjustments related to cigarette cost increases.
Frequently Asked Questions
In March 2009, Casey's General Stores reported a 1.2% increase in same-store gasoline gallons sold. Prepared food and fountain sales saw a 6.4% increase, and grocery and other merchandise sales grew by 10.5%, both on a same-store basis compared to March 2008.
The gasoline margin in March 2009 was above the Company's fiscal 2009 goal of 10.8 cents per gallon.
Yes, Casey's General Stores experienced significant cost increases on cigarettes from its suppliers during March 2009. This led to retail price adjustments, which accounted for approximately 4-5% of the reported increase in grocery and other merchandise sales.
The average retail price of gasoline sold during March 2009 was $1.87 per gallon.