Latest news with #Rebelez
Axios
24-06-2025
- Automotive
- Axios
Casey's skips the Buc-ee's bloat
Bigger isn't always better — at least that's what Casey's is betting on for the time being. The big picture: Gas station companies nationwide are building bigger stores to encourage customers to stay and browse, especially as more electric vehicles hit the roads. State of play: During a Q&A with reporters this month, Casey's CEO Darren Rebelez noted that while EV customers stay at the gas station to charge for 30 minutes — most return to their cars after making their purchases inside. "If we see a trend where people want to spend more time in the actual store, then we'll have the ability to accommodate that," Rebelez said. "But from what we've seen so far, they prefer to actually spend the time in the car." By the numbers: Casey's is already larger than the average gas station because of its kitchen, Rebelez said. The average size of a store is 2,500 to 4,000 square feet, per CSP. Meanwhile, Sheetz on the east coast is expanding its stores, averaging 7,000 square feet and adding drive-thrus, the New York Times reports. QuikTrip, which is expanding in the Midwest, averages 7,000 square feet. Buc-ee's, the southern gas station, has locations as big as 75,000 square feet.
Yahoo
12-06-2025
- Business
- Yahoo
Ankeny-based Casey's sees record stock price on strong fiscal year 2025 report
Casey's General Stores plans to add 80 locations in the next fiscal year, its executives said as the company reported a strong fiscal year 2025 performance that pushed its stock price to an all-time high. The Ankeny-based company reported Monday, June 10, that net income was $546.5 million, up 8.9% from fiscal 2024, and earnings before interest, taxes, depreciation, and amortization were $1.2 billion, up 13.3%. Casey's stock hit an all-time high of $509.08 on the news. Its value is up nearly 50% from a year ago. The plan for continued expansion comes after a year when Casey's, the county's third-largest convenience store chain, added 270 stores, moving for the first time into Alabama, Florida and Mississippi. It also expanded its footprint in Texas, where it entered the market in 2023 with the purchase of 22 Lone Star Food Stores, then bought 148 CEFCO locations last year. Chief Financial Officer Steve Bramlage, in a conference call with analysts and reporters, said that by the end of fiscal year 2026, the chain will have added about 500 stores over three years, beating a goal of 350 set in 2024 . CEO Darren Rebelez in a separate call told analysts that the CEFCO stores and "proof of concept" Casey's stores in Texas and Florida are performing well. 'While we're in different states we tend to be in those smaller towns and rural communities. That is right in our wheelhouse,' Rebelez said. 'There's a little bit of nuance between one state and another, but by and large they're behaving exactly like we expected.' As in past years, he said, about half of Casey's new stores in the coming year will be acquisitions and the rest will be newly built. The CEFECO acquisition was rare, he said, adding that Casey's typically buys one or two stores at a time. "Sometimes acquisitions get a little expensive and maybe we don't want to go down that path," he said. "Sometimes construction costs are more expensive. So we like to lean heavier the other way. It gives us great optionality to have rateable, steady growth without having to sacrifice too much." Related: Casey's pizza turns 40 years old. Find out how this Iowa staple was invented Non-gas sales showed strong growth in fiscal year 2025: In-store sales of goods increased 10.98% to $5.76 billion and prepared food sales, which include pizza, increased 10.2% to $1.61 billion. About half of Casey's prepared food revenues come from pizza sales. Casey's also is test marketing chicken wings at 225 stores. "We're very encouraged with what we've seen so far," Rebelez said. "Guest feedback has been really strong. We're continuing to learn and making some modifications as we look forward." President Donald Trump's on-again, off-again tariffs have roiled other retailers and shaken consumer confidence this spring. But Casey's has largely been spared, Bramlage and Rebelez said. Less than 5% of products Casey's sells are imported, Bramlage said. Stagnating incomes and worries about the tariffs and inflation have led to plunging consumer confidence this spring, according to the University of Michigan's Consumer Sentiment Survey. But Rebelez, in keeping with a March comment that Casey's weathers poor economic times well, said that while consumers are "modifying some purchasing behavior," sales have remained strong. "The consumer is really hanging in there and continuing to visit our stores as frequently as they have historically," he said. Philip Joens covers retail and real estate for the Des Moines Register. He can be reached at 515-284-8184 or pjoens@ This article originally appeared on Des Moines Register: Casey's stock booms as chain posts high earnings for fiscal year 2025
CNBC
10-06-2025
- Business
- CNBC
Casey's General Stores CEO on why consumers are focused on value
Casey's General Stores CEO Darren Rebelez told CNBC's Jim Cramer that he thinks consumers across the board have become more value-conscious over the last several years. "Coming out of Covid, when we had some supply chain challenges and inflation took off, I think that was a shock to the system," Rebelez said. "And then you compound that with interest rates going up, it really shook people loose. And so now, even if you have money, people are questioning why they're paying for something that they don't think the value is quite there." Casey's is an Iowa-based convenient store chain that operates primarily in the Midwest and the South. The company posted an earnings and revenue beat Monday night, and the stock surged during Tuesday's session to reach a new 52-week high, finishing the up 11.59%. In addition to fuel and groceries, the chain promotes a variety of pizzas and other food items. According to Rebelez, the pizza is made from scratch and has helped the brand earn a "cult following." He also said Casey's receives "strong ratings on value" from higher-income consumers. Rebelez discussed Casey's expansion plans, citing an acquisition made last fall that allowed the company to open new locations in Texas. Casey's could open thousands of new stores, he said. He added that in its home state of Iowa, which has a population of about $3 million, Casey's already has 550 million locations. "The population of Texas is 30 million people, and we have 170 stores there," Rebelez said. "We have white space for days in, in Texas." Click here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest
