Casey's General Stores plans to add 400 locations in new three-year push

Key Points:

• Casey’s General Stores plans to add at least 400 new stores over the next three years through acquisitions and new builds, aiming to expand its presence beyond its current 2,900 locations.
• The company is focusing on growing its prepared food business, especially made-to-order items like wings, which are now available in 850 stores with various sauces and rubs, positioning itself as a competitor to restaurants rather than just convenience stores.
• Casey’s aims to increase its EBITDA by 8% to 10%, driven by store expansion, food innovation, and improved operational efficiency through investments in technology such as AI, forecasting tools, and digital platforms like its app and rewards program.
• CEO Darren Rebelez highlighted the company’s recent success, including adding over 500 stores, joining the S&P 500, and achieving a stock increase of more than 53% year-over-year, reflecting strong investor confidence in its hybrid convenience retail and quick-service restaurant model.
• The company’s growth strategy, described as disciplined, focuses on expanding "Casey’s Country" into both existing and new markets while leveraging its diverse product offerings, including fuel, grocery, general merchandise, and prepared foods.