Casey’s Announces New Three-Year Strategic Plan
28 Junho 2023 - 9:00AM
Business Wire
Nation’s Third Largest Convenience Retailer
Unveils Plans to Drive Store Growth, Accelerate its Food Business
and Enhance Operations
Casey’s General Stores, Inc. (NASDAQ: CASY), a $15 billion in
revenue, 50-year retail success story, announces its new three-year
strategic plan. Building on the last plan, this strategy leverages
Casey’s resilient business model, expanding footprint,
guest-centered convenience and restaurant-quality food as a road
map to further differentiate Casey’s from competitors and position
the company as a top retailer.
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the full release here:
https://www.businesswire.com/news/home/20230628081960/en/
Casey's unveils plans to drive store
growth, accelerate its food business and enhance operations.
(Photo: Business Wire)
“Casey’s has delivered exceptional performance over the last
three years, growing our inside same-store sales by 6.5% this past
fiscal year, and expanding our footprint by over 350 stores since
2020,” said Casey’s President and CEO Darren Rebelez. “Our new
strategic plan demonstrates that Casey’s is truly a category of
one. From our strong balance sheet and insight-driven
decision-making to our delicious, handmade pizza and
industry-leading loyalty program, Casey’s is undeniably unique in
what we offer our guests and communities.”
Through its new three-year strategic plan, Casey’s is building
on historic strengths and articulating areas of further
opportunity, focused on five key initiatives:
- Grow Store Count: As the nation’s third largest
convenience store retailer with over 2,500 stores in 16 states,
Casey’s will continue to grow its footprint to have the right
stores in the right locations with the right products to meet
guests’ needs. Through organic growth and acquisitions, the company
is targeting the addition of 350 stores by the end of fiscal year
2026.
- Accelerate the Food Business: Through an insights-driven
innovation process, Casey’s will elevate convenient food aligned to
guest needs, providing menu options that are craveable and
available only at Casey’s. “Prepared food is a core capability for
Casey’s, and as the fifth largest pizza chain in the U.S., our
fresh, handmade pizza is our crown jewel,” said Casey’s Chief
Merchandising Officer Tom Brennan. “We’re focused on accelerating
our food business through increased whole pie sales, unique,
limited-time menu items, exclusive brand partnerships and
extensions of our fan favorites, like our new thin crust pizza.” In
addition to prepared food, Casey’s will expand its private label
offerings, building on over 300 high-quality, affordable snack and
beverage options aligned to deliver on guests’ wants and needs. In
fiscal year 2023, Casey’s private label products reached over 9%
penetration in both units and gross profit dollars in its grocery
and general merchandise category. Building on the success of
Casey’s Rewards, now with more than 6.5 million members, Casey’s
will offer more contemporary and personalized ways to engage guests
through digital technology, including a refreshed Rewards
platform.
- Enhance Operational Efficiency: Across the organization,
Casey’s new strategic plan will enable operational improvements
that drive efficiency and decrease costs through data-driven
decision-making. In addition, Casey’s is implementing new digital
store tools for team members and guests to improve speed and lower
operating costs. “We have made significant progress in evaluating
how things get done in our stores and working to make it easier to
run our stores and serve our valued guests. I appreciate the
continuous improvement initiatives our teams have taken on, and we
look forward to continuing to improve our operations,” said
Rebelez.
- Community-first Culture: Casey’s is in a category of its
own across the rural and mid-size communities it serves, fulfilling
the food, fuel and convenience needs of guests. Over the next three
years, Casey’s will continue to build a culture that drives
performance and exceeds guests’ expectations, putting service first
and taking pride in caring for their guests, their communities and
Casey’s team members. Since 2020, Casey’s, with the help of our
supplier partners and generous guests, has enabled nearly $15
million in donations back into its communities. This includes more
than 260 Cash for Classrooms grants to schools and education
organizations, over 60 student scholarships and support of 770
services needed by veterans, and 30 million meals through its
partnership with Feeding America.
- Financial Strength: With its resilient business model
and proven track record of driving growth and delivering results,
Casey’s is well positioned to perform through the economic cycle.
The company’s strategic plan is a continuation of its accelerated
growth, with the goal of growing EBITDA at an 8% to 10% compound
annual growth rate.
“Casey’s has proven time and again that we are a resilient
business, well positioned to continue delivering long-term value
for our shareholders,” said Rebelez. “I’m proud of the hard work
and dedication of the Casey's team and excited for our relentless
pursuit of the growth opportunities ahead of us over the next three
years.”
The new strategic plan was presented to investors and analysts
during Casey’s Investor Day on June 27. Materials from the
presentation are available on the company’s website.
About Casey’s
Casey’s is a Fortune 500 company (NASDAQ: CASY) operating over
2,500 convenience stores. Founded more than 50 years ago, the
company has grown to become the third-largest convenience store
retailer and the fifth-largest pizza chain in the United States.
Casey’s provides freshly prepared foods, quality fuel and friendly
service at its locations. Guests can enjoy pizza, donuts, and a
wide selection of beverages and snacks. Learn more and order online
at www.caseys.com, or in the mobile app.
Use of Non-GAAP Measures
This release includes references to "EBITDA," which we define as
net income before net interest expense, depreciation and
amortization, and income taxes. EBITDA is not presented in
accordance with generally accepted accounting principles (“GAAP”)
and should not be considered a substitute for net income, cash
flows from operating activities or other income or cash flow
statement data. Because non-GAAP financial measures are not
standardized, EBITDA, as defined by us, may not be comparable to
similarly titled measures reported by other companies. It therefore
may not be possible to compare our use of this non-GAAP financial
measure with those used by other companies. For a reconciliation of
EBITDA to net income as used herein and in our updated strategic
plan, please see the Investor Relations section of our website
here.
Cautionary Statements
This release contains statements that may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including those related
to expectations for future periods, possible or assumed future
results of operations, financial conditions, liquidity and related
sources or needs, business and/or integration strategies, plans and
synergies, supply chain, growth opportunities and performance at
our stores. There are a number of known and unknown risks,
uncertainties and other factors that may cause our actual results
to differ materially from any results expressed or implied by these
forward-looking statements, including but not limited to the
execution of our strategic plan, the integration and financial
performance of acquired stores, wholesale fuel, inventory and
ingredient costs, distribution challenges and disruptions, the
impact and duration of the conflict in Ukraine or other
geopolitical disruptions, as well as other risks, uncertainties and
factors, which are described in the company’s most recent annual
report on Form 10-K and quarterly reports on Form 10-Q, as filed
with the Securities and Exchange Commission and available on our
website. Any forward-looking statements contained in this release
represent our current views as of the date of this release with
respect to future events, and Casey’s disclaims any intention or
obligation to update or revise any forward-looking statements in
the release whether as a result of new information, future events
or otherwise.
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katie.petru@caseys.com
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