Convenience chain also discloses increased value creation plan.
Casey’s General Stores Inc. has announced key initiatives to increase profitability, improve operational performance and enhance shareholder value, and also provided fiscal 2021 same-store sales expectations.
These initiatives are part of the company’s reported earnings results for the three months ended Jan. 31, 2018.
“We are implementing key initiatives that will drive accelerated growth and profitability and deliver enhanced returns for shareholders,” said Terry W. Handley, President and Chief Executive Officer of Ankeny, Iowa-based Casey’s. “Together with the Board and governance changes Casey’s also announced today, we believe we are well positioned to transform our business to drive sustainable value in this rapidly evolving retail landscape.”
Same-Store Sales Expectations
Casey’s is establishing the following same-store sales expectations for fiscal 2021:
- Fuel gallons: 4-plus%;
- Grocery & other merchandise: 6-plus%;
- Prepared food & foundation: 10-plus%.
Enhanced Store Performance
Casey’s expects to enhance store performance primarily through three key initiatives:
Digital Engagement. The Casey’s digital engagement program will enable a seamless customer experience, both online and in-store, that offers new digital product categories and facilitates personalized marketing and rewards. Through this agile, customer-centric capability, Casey’s plans to deliver enhanced value to the customer by leveraging customer data and insights.
Casey’s, which operates more than 2,000 locations, expects to begin realizing significant benefits, including same-store sales growth, in fiscal 2020.
Fleet Card. Led by a team with relevant implementation and execution experience, Casey’s fleet card program is expected to increase fuel sales by 2% in the first full year. This program will increase volumes over time and will drive increased store traffic. Casey’s expects to begin realizing fuel and in-store sales benefits by third quarter of fiscal 2019.
