Ankeny, Iowa — The Iowa-based Casey’s convenience store chain reported an increase of 14 percent in net income for the second quarter despite a drop in gas sales. Casey’s Chief financial officer Steve Bramlage talked about the results in a conference call for investors.
He says fuel gallons sold were down just under one percent compared to the second quarter last year.
Casey’s CEO Darren Rebelez says total inside sales were up nine percent compared to the same quarter last year. He says customers were purchasing more expensive items, including beer.
He says cigarettes are another area where they benefit from the sale of products that generate more revenue.
He says prepared foods and beverages led the way overall for inside sales, up more than five percent. Some of that was due to an increased number of stores. Casey’s closed the acquisition of the Fikes stores and is staying with its projection of an increase of approximately 270 stores for the fiscal year.
