Iowa Based Convenience Store Has Plans For HUGE Expansion
The third largest convenience retailer in the nation is only going to get bigger over the next few years.
On Wednesday, officials from Casey's General Store announced their three year plan to the public. The popular gas station/convenience store spot is hoping to continue with the success they've seen with the brand since 2020.
Casey’s President and CEO Darren Rebelez shared that over the past three years, more than 350 locations have been created. In addition, inside same-store sales grew by nearly 7% over the course of the last fiscal year, according to reports.
"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." ~ Casey’s President and CEO Darren Rebelez
As of early June 2023, there are 2,542 Casey's across the country, the majority of them being somewhere in the Midwest. This brand is located in sixteen different states. Iowa has the most Casey's stores with 552 whilst Illinois finishes up at a close second with 517, according to reports.
During Casey's Investor Day, the Fortune 500 Company announced the five key focuses of growth for the company's next three years.
- Financial Strength
- According to the company's official statement this will be done by "growing EBITDA at an 8% to 10% compound annual growth rate."
- Accelerate the Food Business
- Casey's plans to "elevate" convenient food based off of customer needs. Does that mean that we'll be getting more creations like the thin crust pizza?
- Enhance Operational Efficiency
- The game plan is to implement more digital tools for customers and employees that will "improve speed and lower operating costs." Will this lead to self check outs or even the use of AI to improve efficiency?
- Community-first Culture
- The company plans to continue to give money back to the local communities through charities.
- Grow Store Count
Officials say that they plan to add 350 stores to the brand by the end of 2026. They claim that this will be done through "organic growth and acquisitions."
There is no word on where these new locations will be. We will continue to keep you updated as more news comes out.
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