ANKENY, Iowa -- On the heels of pulling off a significant boost in same-store sales, Casey's General Stores Inc. will prime the pump in that territory by expanding to 24-operation in a growing number of its retail outlets.
On January 17, 2012, Casey's reported December 2011 same-store sales results for stores open for one full year, according to a filing with the U.S. Securities & Exchange Commission (SEC). Same-store sales for prepared food and fountain increased 13.3%, and grocery and other merchandise increased 6.9% in December 2011 compared to December 2010.
Same-store gasoline gallons sold decreased 2.4% in December 2011 compared to December 2010. The gasoline margin was in line with the company's fiscal 2012 goal of 13.5 cents per gallon. The average retail price of gasoline sold during December 2011 was $3.09 per gallon,
The Casey's store in Sherman, Ill., recently switched to 24-hour operations as part of a push by the chain to expand operating hours in smaller markets, reported the State Journal-Register.
About 150 stores are making the switch this month, CFO William Walljasper told the newspaper. The change is based on increased revenue from a group of 70 to 80 stores that started around-the-clock hours early last year.
"We've been very successful with this, and the decision was to expand to other locations," Walljasper said.
Casey's stores traditionally operate from 6:00 a.m. to 11:00 p.m.
Walljasper said late-night and early-morning sales helped increase earnings in 2011. In its latest earnings report, Casey's revenues totaled $3.6 billion for the six-month period ended October 31, an increase of nearly 39% from the same period of 2010.
Village administrator John Swinford said 24-hour sales will capture more of the traffic that passes through Sherman each day, especially during work commutes to and from the state capital of Springfield.
Round-the-clock sales also should help the police and public-works departments, said the report. "They'll be able to buy fuel 24 hours a day," said Swinford. "In the past, they've had to go to three or four locations outside the village."
Casey's was able to convert to 24-hour sales under existing ordinances, including the liquor license.
Walljasper said stores are selected for conversion based on traffic and location. The Sherman location is typical because of its interstate proximity.
"It's certainly not applicable for all of our stores," he said.
Ankeny, Iowa-based Casey's General Stores operates approximately 1,700 predominately rural c-stores in 11 Midwestern and Great Plains states: Arkansas, Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Nebraska, Oklahoma, South Dakota and Wisconsin.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.