Casey’s inside same-store sales increased 2.3% in Q1 FY25. Credit: Sheena_Waldron/Shutterstock.

Convenience retail chain Casey’s General Stores has reported net income of $180.19m in the first quarter (Q1) of fiscal 2025 (FY25), up 6% from $169.23m in Q1 FY24. 

The company’s diluted earnings per share (EPS) for the quarter increased by 7% to $4.83 from $4.52 in the same period of the previous year.

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During the quarter ending 31 July 2024, Casey’s total revenue was $4.09bn, up from $3.86bn in Q1 FY24. 

Its inside same-store sales increased 2.3% year-on-year, and 7.9% on a two-year stack basis, with an inside margin of 41.7%.  

Total inside gross profit for the quarter rose by 10.4% to $614.3m against the same quarter of the previous year. 

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The retailer’s recorded earnings before interest, taxes, depreciation and amortisation were $345.78m in Q1 FY25, up 9%, from $316.89m in Q1 FY24. 

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Casey’s chairman, president and CEO Darren Rebelez said: “Casey’s started the fiscal year off on the right foot and delivered another solid quarter highlighted by strong inside gross profit growth. Inside same-store sales were driven by prepared food and dispensed beverages, with hot sandwiches and bakery performing exceptionally well.  

“Our fuel team continues to balance volume and margin as they delivered positive same-store fuel gallons while also achieving over 40 cents per gallon fuel margin. The operations team continues to find efficiencies as we reduced same-store labour hours for the ninth consecutive quarter.” 

For fiscal 2025, the retailer anticipates inside same-store sales to grow between 3% and 5% and inside margin to be comparable to fiscal 2024.  

Casey’s also expects total operating expenses to increase 6% to 8% during the fiscal year.  

In July 2024, the retailer entered an agreement to acquire CEFCO Convenience Stores, owned by Fikes Wholesale, in a $1.145bn cash transaction.