Casey’s own brands add to record Q4
Casey’s General Stores weathered the pandemic and finished the year on a high note.
The retailer that launched a revived own brands strategy last year reported record results during its fourth-quarter period that ended April 30.
Same-store sales for the retailer were up 12.8% as inside guest counts improved steadily and inside margin improved 100 basis points to 39.9% compared with a year ago. The retailer said the strategic mix of private brands, packaged beverages and prepared foods added to the growth. The retailer greatly expanded its rebranded private label products in January.
Digital sales increased by 96% compared with a year ago, 3.6 million Casey’s Rewards members were listed by year-end, and Casey’s closed fiscal 2021 with diluted EPS of $8.38, an all-time high.
“Casey’s achieved remarkable results throughout the year in one of the most difficult retail environments of our lifetime," said Darren Rebelez, president and CEO. “The entire Casey’s team proved themselves resilient in spite of these challenges, and made excellent progress on our long-term strategic plan while keeping our people and communities safe. We have great momentum behind our digital engagement efforts, our private brand products have resonated with our guests, our prepared foods business is regaining traction, and we are in the process of welcoming two large acquisitions to the Casey's family. We are now poised to emerge from the pandemic an even stronger company.”
Casey’s reported that total revenue was $2.4 billion, an increase of $565 million vs. a year ago. Total inside sales increased 14.4% to $913 million, and prepared food and fountain sales were up 14.7% to $264 million. Net income decreased 32.8% to $41.7 million, and adjusted EBITDA for the quarter was $140.6 million compared to $159 million a year ago.