US convenience retailer Casey’s General Stores saw its earnings fall in fiscal 2013 but sounded an optimistic note for the new financial year.

Earnings in the 12 month period amounted to US$110.6m, a 5.3% drop on last year. The company said lower cigarette prices and bad weather contributed to the drop in profit for the year to the end of April.

Earnings also were affected by $3.5m in unrecoverable accounts, in addition to charges related to replaced, closed and under-performing stores.

Pre-tax profit, however, was up 4.6% to $175.1m, while sales climbed 3.7% to $7.25bn. The company reported same-store sales growth in its grocery and other merchandise division of 0.8%.

For fiscal 2014, Casey’s is forecasting increased same-store grocery and other merchandise sales of 5% with an average margin of 32.3%.

Click here to view the full earnings release.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.