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Casey’s stock price drops with high gas prices, predictions of slowing growth

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Des Moines Register: Casey’s General Stores shares slipped today as executives predicted some customers will drive less because of high gas prices, slowing the company’s growth. Leaders of the Ankeny-based chain said they expect fuel sales to remain flat or grow by up to 2% in the current fiscal year, which started in May. That’s down from 4.4% in the most recently ended fiscal year. Executives also disclosed in an outlook statement Tuesday that they expect sales of pizza slices, doughnuts and other convenience store items to increase 4% to 6% this fiscal year. That would be slower than the 6.6% sales growth that Casey’s reported for the year ended in April. Casey’s stock was down about 4% by late afternoon.