8-KRegulation FD

CASEYS GENERAL STORES INC 8-K Report, Regulation FD Disclosure (Apr 15, 2013)

Filed April 15, 2013For Securities:CASY

Summary

This 8-K filing from Casey's General Stores, Inc. (CASY) on April 15, 2013, provides an update on the company's same-store sales results for March 2013. The report highlights a mixed performance across key categories, with prepared food and fountain sales showing a notable increase, while grocery and other merchandise sales experienced a decline. The company also reported a slight increase in gasoline gallons sold, with a margin that exceeded its fiscal year goal. Of particular interest to investors is the impact of weather on these results. Casey's indicated that significant weather differences between March 2013 and March 2012 adversely affected sales across all categories, particularly in grocery and gasoline volumes. Despite these weather-related headwinds, the prepared food and fountain segment demonstrated resilience. Investors should monitor how these trends, especially the performance of higher-margin categories like prepared foods, evolve in future reports.

Key Highlights

  • 1Prepared food and fountain same-store sales increased by 3.6% in March 2013 compared to March 2012.
  • 2Grocery and other merchandise same-store sales decreased by 1.7% in March 2013 compared to March 2012.
  • 3Same-store gasoline gallons sold increased by 0.6% in March 2013 compared to March 2012.
  • 4Gasoline margin in March 2013 was above the company's fiscal 2013 goal of 14.0 cents per gallon.
  • 5The average retail price of gasoline sold in March 2013 was $3.54 per gallon.
  • 6Adverse weather conditions significantly impacted same-store sales across prepared food and fountain (3-4%), grocery and other merchandise (6-7%), and gasoline gallons sold (2-3%) when compared to the prior year.

Frequently Asked Questions

In March 2013, Casey's General Stores reported a mixed sales performance. Prepared food and fountain same-store sales saw a positive increase of 3.6%, while grocery and other merchandise same-store sales declined by 1.7%. Gasoline gallons sold experienced a slight increase of 0.6%.

The company stated that significant differences in weather compared to March 2012 adversely impacted sales. Prepared food and fountain sales were affected by approximately 3-4%, grocery and other merchandise by 6-7%, and gasoline gallons sold by 2-3% due to weather.

Yes, the gasoline margin in March 2013 was reported to be above the company's fiscal 2013 goal of 14.0 cents per gallon. The average retail price of gasoline sold was $3.54 per gallon.

The positive growth in the prepared food and fountain category is significant as it is often a higher-margin business compared to gasoline or grocery sales. Its resilience, despite challenging weather, suggests a strong consumer demand for these offerings.