Casey's General Stores Investor Relations Material

Casey’s General Store, doing business under the name of Casey’s, has since its foundation in 1968 grown to become a common sight in smaller rural towns all over the American Midwest. Casey’s is a retail business, providing their communities with a one-stop shop for everyday staples such as gas and basic groceries, while also offering a wide array of different prepared foods, snacks, and drinks. With their 2400 stores spread across 16 states they’ve become a part of everyday life in the American heartland.

Casey’s General Store was founded in Boone, Iowa, and in the years following the opening of the first store, expansion into the rest of Iowa was rapid. Even if Casey’s can now be found far away from Iowa’s borders, its feet remain firmly planted in their home state. The headquarters are located in Ankeny just outside of Des Moines. Although much has changed since 1968, Casey’s small-town mentality is still being preserved through an emphasis on hospitality and customer service, and 24% of its stores are located throughout Iowa. The origins of Casey’s is a classic tale of American growth and entrepreneurial spirit, closely mirroring the development of companies like Target and Walmart.

Since its early days, Casey’s has focused on providing its nearby communities with a practical and welcoming hub for the necessities of everyday life. Combining a gas station with groceries and various fast-food options means that the revenue streams are diverse and operate with a built-in hedge against fluctuating oil prices. Casey’s is vertically integrated and runs its own distribution. The company currently employs three separate distribution centers, strategically placed around its area of operations.

Even if Casey’s locations often are a central hub in their community, steps are being taken to remain relevant for many years to come. Selling gasoline is a cornerstone of the business, but it’s a revenue stream that isn’t going to be around forever. The shift towards EVs has started and is ramping up every year. Casey’s is preparing for this by rolling out EV charging stations at their locations across the Midwest while continuing to develop their offerings of various prepared foods. A big push is being made in rolling out their expansive made-from-scratch Pizza program which now includes delivery and online ordering.