Casey’s Plans to Open 120 Stores

Casey’s General Stores expects to open at least 120 stores in its new fiscal year while continuing to grow inside same-store sales, the retailer said in its financial results for the three months and year ended April 30, 2026.

The third-largest convenience retailer in the United States also reported inside same-store sales increased 5.5% in the fourth quarter ending April 30 compared to the same period last year. 

Net income for the quarter was up 65.5% year over year to $162.7 million. For the full fiscal year, net income was up 30.7% to $714.4 million. 

“Casey's delivered another record fiscal year as our team closed out the three-year strategic plan on an extremely high note, reaching $714 million of net income and nearly $1.5 billion in EBITDA," Casey’s CEO and President Darren Rebelez said in a news release. “Inside same-store sales for the year were extremely strong, up 4.2%, or 7.0% on a two-year stack basis, led by strong performance in prepared foods and non-alcoholic beverages.”

Fuel same-store gallons for the fourth quarter also increased 1.5% year over year, with a fuel margin of 46.9 cents per gallon, the report said. 

Casey’s Rewards also grew to nearly 10.5 million members. 

For its new fiscal year, Casey’s expects inside same-store sales to increase 2% to 5%. The 120 planned store openings in the 2027 fiscal year will come through mergers and acquisitions as well as new construction, according to the news release. 

Casey’s also closed 41 stores over the last year, according to the report. Some of the closed stores are from Casey’s acquisition of Fikes Wholesale in 2024, which included 198 CEFCO Convenience Stores, with 148 locations in Texas and 50 in Alabama, Florida and Mississippi, said CFO Steve Bramlage on the earnings call. 

With the closures, Casey's is exiting the state of Mississippi, where it had "10 or so stores" it had acquired from the Fikes transaction. 

The 41 sold stores also included other CEFCO stores outside Mississippi, locations from other acquisitions and “sometimes we will close two old stores when we build a brand-new store,” Bramlage said. “It's a variety of things,” he added.  

The Iowa-based retailer has more than 2,900 stores in 19 states and was added to the S&P 500 in April.

The report follows Texas-based Yesway on June 2 reporting $30.2 million in net income for the quarter ending March 31, an improvement from a net loss of $5.6 million in the quarter the year before. Yesway’s same-store inside merchandise sales increased 4.5% year-over-year.