8-KRegulation FD

CASEYS GENERAL STORES INC 8-K Report, Regulation FD Disclosure (Mar 11, 2010)

Filed March 11, 2010For Securities:CASY

Summary

This 8-K filing from Casey's General Stores, Inc. (CASY) on March 11, 2010, discloses the company's same-store sales results for February 2010. Investors are provided with key metrics on gasoline sales and margins, as well as performance in prepared food and fountain, and grocery and other merchandise categories. The filing highlights a decrease in gasoline gallons sold but a strong gasoline margin, alongside mixed results in other merchandise categories, including the impact of a federal excise tax increase on cigarettes. These sales figures offer a snapshot of the company's operational performance during a specific period, allowing investors to assess trends in customer purchasing behavior and the impact of external factors like tax changes. The detailed breakdown provides insights into the core business segments of Casey's, which are crucial for evaluating the company's revenue generation and profitability outlook.

Key Highlights

  • 1February 2010 same-store gasoline gallons sold decreased by 2.2% compared to February 2009.
  • 2Gasoline margin for February 2010 exceeded the company's fiscal 2010 goal of 11.0 cents per gallon.
  • 3The average retail price of gasoline sold in February 2010 was $2.49 per gallon.
  • 4Same-store sales for prepared food and fountain decreased by 1.3% in February 2010 compared to February 2009.
  • 5Same-store sales for grocery and other merchandise increased by 0.5% in February 2010 compared to February 2009.
  • 6A federal excise tax increase on cigarettes had an approximate 1.6% negative impact on grocery and other merchandise same-store sales.

Frequently Asked Questions

The main takeaways are a decrease in gasoline gallons sold (-2.2%) but a strong gasoline margin (above the 11.0 cents/gallon target), a slight decline in prepared food and fountain sales (-1.3%), and a modest increase in grocery and other merchandise sales (+0.5%). The report also notes the impact of a federal cigarette tax increase.

While the volume of gasoline gallons sold on a same-store basis decreased by 2.2% year-over-year, the margin on gasoline sales was robust, exceeding the company's fiscal 2010 goal of 11.0 cents per gallon. The average retail price of gasoline was $2.49 per gallon.

The recent federal excise tax increase on cigarettes had an approximate 1.6% negative impact on the same-store sales of grocery and other merchandise for February 2010.

Under Regulation FD, the information in this Item 7.01 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 will not be incorporated by reference into other SEC filings unless expressly stated.