8-KRegulation FD

CASEYS GENERAL STORES INC 8-K Report, Regulation FD Disclosure (Jul 15, 2010)

Filed July 15, 2010For Securities:CASY

Summary

This 8-K filing by Casey's General Stores, Inc. (CASY) from July 15, 2010, provides an update on the company's same-store sales performance for June 2010. The report indicates positive growth across key segments, with prepared food and fountain sales increasing by 2.9% and grocery and other merchandise sales rising by 2.1% year-over-year. This demonstrates continued customer engagement and purchasing within Casey's stores. Furthermore, the company reported a 2.4% increase in same-store gasoline gallons sold, coupled with a gasoline margin that exceeded its fiscal 2011 goal of 13.5 cents per gallon. This strong performance in both fuel volume and profitability is a significant positive for investors, highlighting operational efficiency and favorable market conditions. Despite challenging weather in its operating regions, Casey's CEO expressed satisfaction with the robust results, emphasizing the company's leading position in the industry.

Key Highlights

  • 1June 2010 same-store sales for prepared food and fountain increased by 2.9% compared to June 2009.
  • 2June 2010 same-store sales for grocery and other merchandise increased by 2.1% compared to June 2009.
  • 3Same-store gasoline gallons sold increased by 2.4% in June 2010 compared to June 2009.
  • 4Gasoline margin for June 2010 was above the Company's fiscal 2011 goal of 13.5 cents per gallon.
  • 5The average retail price of gasoline sold in June 2010 was $2.56 per gallon.
  • 6CEO Robert Myers highlighted strong gas volume and above-goal margins, along with positive inside same-store sales growth and customer count despite adverse weather.

Frequently Asked Questions

For June 2010, Casey's reported a 2.9% increase in same-store sales for prepared food and fountain, a 2.1% increase in same-store sales for grocery and other merchandise, and a 2.4% increase in same-store gasoline gallons sold compared to June 2009.

The gasoline margin in June 2010 was above the company's fiscal 2011 goal of 13.5 cents per gallon, indicating strong profitability on fuel sales.

The average retail price of gasoline sold by Casey's during June 2010 was $2.56 per gallon.

CEO Robert Myers described the June results as "strong" and noted that the business was "firing on all cylinders." He specifically mentioned positive growth in gas volume and margins, as well as positive inside same-store sales and customer counts, even with unusually wet weather in their marketing regions.