Casey’s Bucks The Gloom As Sales, Stores And Stock Fuel Growth
The post Casey’s Bucks The Gloom As Sales, Stores And Stock Fuel Growth appeared on BitcoinEthereumNews.com. Casey’s General Store and gas station operation still largely sits in towns of less than 20,000. getty In sharp contrast with a lot of the gloom enveloping much of the retail sector, Iowa-based Casey’s General Stores ended its fiscal year on a high, with fourth-quarter earnings that it would be fair to say took a hammer to analyst expectations. The convenience store chain, which through new site development and acquisitions is rapidly approaching 3,000 stores across 19 states, also saw historic expansion during the year, opening or acquiring 270 stores. That included last year’s acquisition of Texas-headquarterd Fikes Wholesale and its portfolio of 198 CEFCO convenience stores. Casey’s has built its business on targeting small town America, which is where the bulk of its business remains, while making acquisitions to expand its national reach. One of the biggest deals came in July last year, when the convenience store chain agreed to acquire Fikes Wholesale in a cash transaction for $1.145 billion. That purchase price included tax benefits valued at approximately $165 million representing a net purchase price after tax of $980 million. Casey’s acquisition of Fikes, which is based in Temple, Texas included 198 stores and a dealer network distributed as 148 stores in the lone star state as well as 50 stores in Alabama, Florida and Mississippi. In addition to the stores and dealer locations, the purchase included a fuel terminal to support gas supply to the Texas stores. Casey’s Looks To Expansion In its full year posting, Casey’s said that it expects to open at least 80 stores in fiscal 2026 through a mix of acquisitions and new store development, bringing its three-year target strategy for growth to approximately 500 stores. As of fiscal year-end April 30, the company operated a total of 2,904 stores. Casey’s posted net…
The post Casey’s Bucks The Gloom As Sales, Stores And Stock Fuel Growth appeared on BitcoinEthereumNews.com.
Casey’s General Store and gas station operation still largely sits in towns of less than 20,000. getty In sharp contrast with a lot of the gloom enveloping much of the retail sector, Iowa-based Casey’s General Stores ended its fiscal year on a high, with fourth-quarter earnings that it would be fair to say took a hammer to analyst expectations. The convenience store chain, which through new site development and acquisitions is rapidly approaching 3,000 stores across 19 states, also saw historic expansion during the year, opening or acquiring 270 stores. That included last year’s acquisition of Texas-headquarterd Fikes Wholesale and its portfolio of 198 CEFCO convenience stores. Casey’s has built its business on targeting small town America, which is where the bulk of its business remains, while making acquisitions to expand its national reach. One of the biggest deals came in July last year, when the convenience store chain agreed to acquire Fikes Wholesale in a cash transaction for $1.145 billion. That purchase price included tax benefits valued at approximately $165 million representing a net purchase price after tax of $980 million. Casey’s acquisition of Fikes, which is based in Temple, Texas included 198 stores and a dealer network distributed as 148 stores in the lone star state as well as 50 stores in Alabama, Florida and Mississippi. In addition to the stores and dealer locations, the purchase included a fuel terminal to support gas supply to the Texas stores. Casey’s Looks To Expansion In its full year posting, Casey’s said that it expects to open at least 80 stores in fiscal 2026 through a mix of acquisitions and new store development, bringing its three-year target strategy for growth to approximately 500 stores. As of fiscal year-end April 30, the company operated a total of 2,904 stores. Casey’s posted net…
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