8-KRegulation FD

CASEYS GENERAL STORES INC 8-K Report, Regulation FD Disclosure (Feb 16, 2010)

Filed February 16, 2010For Securities:CASY

Summary

Casey's General Stores, Inc. (CASY) filed an 8-K on February 16, 2010, reporting key sales metrics for January 2010 compared to January 2009. The report indicates a decline in same-store gasoline gallons sold, down 3.9%, though the gasoline margin remained at the company's fiscal 2010 target of 11.0 cents per gallon. The average retail price for gasoline was $2.57 per gallon. In other categories, prepared food and fountain sales experienced a decrease of 3.4% in same-store sales. Grocery and other merchandise saw a slight increase of 0.9% in same-store sales, though this was impacted by a federal excise tax increase on cigarettes, which accounted for approximately 2.0% of this category's sales. This disclosure provides a snapshot of the company's operational performance during a challenging economic period.

Key Highlights

  • 1Same-store gasoline gallons sold decreased by 3.9% in January 2010 compared to the prior year.
  • 2Gasoline margin met the company's fiscal 2010 goal of 11.0 cents per gallon.
  • 3The average retail price of gasoline sold in January 2010 was $2.57 per gallon.
  • 4Same-store sales for prepared food and fountain decreased by 3.4%.
  • 5Same-store sales for grocery and other merchandise increased by 0.9%.
  • 6A recent federal excise tax increase on cigarettes negatively impacted grocery and other merchandise same-store sales by approximately 2.0%.

Frequently Asked Questions

In January 2010, Casey's General Stores reported a 3.9% decrease in same-store gasoline gallons sold and a 3.4% decrease in same-store prepared food and fountain sales. Grocery and other merchandise sales saw a modest 0.9% increase, partially offset by a cigarette tax increase.

The gasoline margin for January 2010 was in line with the company's fiscal 2010 goal, averaging 11.0 cents per gallon.

The average retail price of gasoline sold in January 2010 was $2.57 per gallon.

Yes, a recent federal excise tax increase on cigarettes had an impact on the grocery and other merchandise category, reducing same-store sales in that segment by approximately 2.0%.