Caseys Sees Good Quarter As Some Supply Issues Ease

Ankeny, Iowa — The Ankeny-based Casey’s convenience store chain reports a strong second quarter.

Casey’s CEO, Darren Rebellez, spoke during a conference call Wednesday with investors.

He says some easing of supply issues helped with the sale of prepared foods.

Inflation continues to be an issue with supplies and Rebellez says cheese costs in particular have been up 14 percent. He says they have had to offset some of that with price increases.


He says they feel like they’re striking the right balance in adjusting prices for now.

The company continued to make a generous margin on gas sales of 40-and-a-half cents. Rebellez says they make more profit on gas when prices are falling than when they are going up.

Their total gallons increased around three percent compared to last year due to an increase in the number of stores. The same-store gallons sold were down two-point-three percent compared to last year.



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