Casey's General Stores, Inc. operates a convenience-store and prepared-foods business built around fuel, grocery and general merchandise, pizza, bakery items, beverages and snacks. The company operates more than 2,900 stores in 19 states across the Midwest and Southern United States and identifies itself as the third-largest convenience store retailer and fifth-largest pizza chain in the United States.
Recurring CASY news includes quarterly operating results, same-store inside sales and fuel trends, prepared-food and dispensed-beverage performance, menu additions such as pizza and sides, product-supplier innovation, community grant programs and corporate-status updates such as index inclusion.
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Casey’s (NASDAQ: CASY) has announced the launch of the PEPPERONI PEPPERONI PEPPERONI Challenge, starting from April 11-25. This engaging challenge invites customers to record themselves saying "pepperoni" as many times as possible within 10 seconds to win free pizza, Rewards points, and other prizes through the Casey’s app.
Additionally, Casey’s has recently introduced a new pizza, the PEPPERONI PEPPERONI PEPPERONI, featuring various types of pepperoni on made-from-scratch dough, priced at $16.99. The challenge aims to promote this limited-time product while increasing engagement with Casey’s Rewards, which now boasts over 6 million members. Participants can engage daily, sharing videos on their social media for a chance to win.
Engine Capital LP, a 2.0% shareholder of Parkland Corporation (TSX: PKI), has urged its Board to explore strategic alternatives to enhance shareholder value. Engine believes Parkland could be valued at $45 per share if non-core assets are sold or spun off, thereby focusing solely on fuel and convenience retailing. Parkland's stock has underperformed compared to peers, trading at a significant discount with a market cap of approximately $4.9 billion. Engine recommends that the Board adopt best governance practices, refresh its leadership, and align management compensation with shareholder interests.
Casey's General Stores reported strong financial results for the three and nine months ended January 31, 2023. Diluted EPS rose 56% year-over-year to $2.67, aided by a $0.31 benefit from a one-time legal expense reduction. Inside same-store sales increased by 5.6%, with total inside gross profit climbing 11.6% to $450.6 million. Total fuel gross profit also rose 10.4% to $262.6 million despite a slight decline in same-store fuel gallons sold. Operating expenses surged by approximately 5%, although a one-time legal matter relief helped manage costs. Casey's anticipates same-store inside sales growth of 6% to 7% for the fiscal year.