8-KRegulation FD

CASEYS GENERAL STORES INC 8-K Report, Regulation FD Disclosure (Sep 15, 2009)

Filed September 15, 2009For Securities:CASY

Summary

This 8-K filing from Casey's General Stores, Inc. (CASY) on September 15, 2009, provides an update on the company's sales performance for August 2009, focusing on same-store sales results. This information is crucial for investors to gauge the company's operational health and sales trends in a challenging economic environment. The report indicates a modest increase in same-store gasoline gallons sold and a stronger performance in prepared food and fountain sales, along with grocery and other merchandise. The gasoline margin exceeded the company's target, which is a positive sign for profitability. While the grocery sales increase was partially influenced by a federal excise tax hike on cigarettes, the overall trend suggests resilience in the company's core business segments.

Key Highlights

  • 1August 2009 same-store gasoline gallons sold increased by 0.6% compared to August 2008.
  • 2Gasoline margin in August 2009 surpassed the company's fiscal 2010 goal of 11.0 cents per gallon.
  • 3The average retail price of gasoline sold in August 2009 was $2.46 per gallon.
  • 4Same-store sales for prepared food and fountain increased by 3.1% in August 2009 compared to August 2008.
  • 5Same-store sales for grocery and other merchandise increased by 1.5% in August 2009 compared to August 2008.
  • 6Approximately 4% of the grocery and other merchandise increase was attributed to cigarettes, largely due to a federal excise tax increase.

Frequently Asked Questions

The primary purpose of this 8-K filing is to provide timely disclosure of Casey's General Stores' August 2009 same-store sales results, as required by Regulation FD.

Casey's experienced a 0.6% increase in same-store gasoline gallons sold in August 2009 compared to the prior year. Importantly, the gasoline margin for the month was above the company's fiscal 2010 target of 11.0 cents per gallon.

Grocery and other merchandise same-store sales increased by 1.5%. A notable factor contributing to this growth was an approximate 4% increase related to cigarettes, primarily driven by a federal excise tax increase.

The prepared food and fountain segment showed positive momentum, with same-store sales increasing by 3.1% in August 2009 compared to August 2008.