Ankeny-based Casey’s General Stores fought off a Canadian company’s hostile take-over bid in 2010 and is now engaged in expanding its chain of convenience stores. Bill Walljasper — the chief financial officer for Casey’s — says from the beginning of May through the end of October, 14 brand new stores opened.
“Eleven of the new store constructions we opened as 24 hour locations,” Walljasper says. “Over the past two years approximately two-thirds of the new stores, acquisitions and replacement stores were opened as 24 hour locations. We currently are on pace to complete a total of 40-45 new store constructions by the end of the fiscal year and replace at least 20 stores.”
The company’s fiscal year ends April 30. The company’s construction budget from May through October period was nearly $187.5 million.
“This was up due to an increase in acquisitions and construction activity,” Walljasper says. “We expect capital expenditures to increase as new store construction accelerates and we continue to add kitchens to our recently acquired stores.”
At the end of the company’s second quarter on October 31, Casey’s General Stores had 1770 outlets.
“We are optimistic about the pipeline for new store and acquisition opportunities going forward. In addition to the unit growth, year-to-date we have converted 94 more locations to a 24-hour format, added 57 additional stores to the pizza delivery program and completed 25 major remodels,” Walljasper says. “…During the remainder of the fiscal year we plan to add 50 more stores to the pizza delivery program in January and convert about another 10 stores to 24 hours.”
Casey’s is now the country’s fifth largest pizza chain in the U.S. The first Casey’s convenience store opened in Boone in 1968. The chain originally operated in communities with a population of under five-thousand, but it has now expanded into major Midwest metropolitan areas and it ranked as the country’s 10th largest convenience store chain.
