(Radio Iowa) – Executives with the Ankeny-based Casey’s General Stores chain of convenience stores say company earnings were up 24 percent in August, September and October.
“The results reflect the strong sales performance across all categories,” says Bill Walljasper, the chief financial officer for Casey’s.
The chain made a profit of nearly 17 cents on each gallon of gas Casey’s sold in August, September and October.
“Total gallons sold increased nearly 10 percent to 423.9 million (gallons of fuel),” Walljasper says.
The “fuel saver” promotion with Hy-Vee grocery stores is helping spur gasoline sales, according to Walljasper. Sales of food and other products inside Casey’s convenience stores were up nearly 15 percent in August, September and October.
“We experienced double-digit sales increases across all areas of the category during the quarter compared to a year ago,” Walljasper says.
Casey’s recorded a more than 12 percent increase in same store sales of pizza. The company paid its managers about $3.5 million in incentives for stronger sales during the quarter.
“Our balance sheet continues to be strong,” Walljasper says.
In addition, the chain is expanding and there were 66 more Casey’s stores operating in the company’s second quarter compared to the same quarter last year.