Casey's (CASY) Issues March Same Store Sales Results
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Price: $871.00 +0.40%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
Revenue Growth %: +21.8%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
Revenue Growth %: +21.8%
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In a Form 8-K, Casey's General Stores (Nasdaq: CASY) reported same store gasoline sales for the month of March rose 1.2% compared to the same period last year. The gasoline margin was above the Casey's FY09 goal of $0.108 per gallon. The average retail price of gasoline sold during March 2009 was $1.87 per gallon.
Same-store sales for prepared food and fountain increased 6.4% while grocery and other merchandise increased 10.5% during the month. During March 2009, the Company experienced significant cost increases on cigarettes from the Company's suppliers. Approximately 4-5% of the increase in grocery and other merchandise sales during March 2009 was related to retail price adjustments that were made as a result of these cost pressures.
Same-store sales for prepared food and fountain increased 6.4% while grocery and other merchandise increased 10.5% during the month. During March 2009, the Company experienced significant cost increases on cigarettes from the Company's suppliers. Approximately 4-5% of the increase in grocery and other merchandise sales during March 2009 was related to retail price adjustments that were made as a result of these cost pressures.
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