Casey’s General Stores, based in Ankeny, Iowa, aims to further its growth by expanding its stores, food offerings, and technology. The company recently announced a three-year plan that will focus on developing its prepared food business, increasing the number of stores, and utilising technology for better efficiency.
The plan includes adding at least 400 new stores through both acquisitions and new constructions. Currently, Casey’s operates over 2,900 convenience stores, making it the third-largest convenience store retailer in the United States and the fifth-largest pizza chain.
CEO Darren Rebelez stated that Casey’s aims to grow its earnings before interest, taxes, depreciation, and amortisation (EBITDA) by 8% to 10%, which is considered strong growth in comparison to the S&P 500. He highlighted the company’s recent success, having opened more than 500 stores in the past three years and becoming a member of the S&P 500, with stock prices rising by over 53% year-on-year.
Food is a crucial element of Casey’s strategy. Known for its pizza, the company is expanding into made-to-order options, such as wings and fries. Currently, wings are sold in 850 stores, with various choices for sauces and rubs. Rebelez remarked that the company sees itself competing more with restaurants for food sales rather than with other convenience stores.
Looking ahead, Casey’s plans to expand its presence through both new stores and existing ones, described by Chief Operations Officer Ena Williams as a “disciplined” approach to development. The company is also investing in artificial intelligence and digital platforms to enhance operational efficiency and customer experience.
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