Casey’s reports record earnings for fiscal 2016

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Casey’s General Stores Inc. said it recorded record earnings for the fiscal year that ended April 30, with earnings per share growing 24 percent to $5.73, compared with $4.62 last year. Fourth-quarter earnings were $1.19 per share, up from $1.05 per share in the year-ago period. “Fiscal 2016 was an exciting year for Casey’s. We successfully opened our second distribution center in Terre Haute, Ind., and launched our mobile app in conjunction with rolling out online ordering across all our stores,” Terry Handley, president and CEO, said in a release. Casey’s said its goals for fiscal 2017 were to increase same-store fuel gallons sold by 2 percent with an average margin of 18.4 cents per gallon; increase same-store grocery and other merchandise sales by 6.2 percent with an average margin of 32 percent; increase same-store prepared food and fountain sales by 10.2 percent with an average margin of 62.5 percent; and build or acquire 77 to 116 stores, replace 35 existing locations and complete 100 major remodels.