Casey’s +5.4% y/y inside same-store sales growth (+12.1% on a 2-year stacked basis) was driven by whole pizza pies, bakery, and alcoholic & nonalcoholic beverages. Strong results drove a +11% increase in CASY shares.
Kroger reported that lower-income households are facing external spending pressures, buying smaller pack sizes, and prioritizing the lowest shelf price. These customers’ spending habits ebb & flow with payroll periods and SNAP benefit distributions.
Costco’s net sales increased +5% during August on +3.4% blended global comp growth. U.S. regions with the strongest comps included the Southeast, Texas & Midwest.
50% of Casey’s stores are in towns of 5,000 or fewer, and the company describes its customers as hard-working, with much lower unemployment than in urban areas, many of them being skilled blue-collar workers earning good wages.