Casey’s Q2 profit down
Ankey, Iowa -- Casey's General Stores Inc.'s reported Monday that its net income declined nearly 13% in its fiscal second quarter on lower sales of gasoline, groceries and cigarettes.
Casey's made $32.9 million in the quarter ended Oct. 31, down from $37.6 million in the year-ago period.
Revenue rose 7.2% to $1.91 billion. Same-store sales of gasoline fell 0.4%, while sales of merchandise dropped 0.7%. Cigarette sales were hurt by competitive pricing and an increase in an Illinois state excise tax, CEO Robert J. Myers said in a statement.