Casey's Is Among the World's 20 Fastest-Growing Retailers
ANKENY, Iowa — There have been numerous reports citing the retail apocalypse — the closing of brick-and-mortar retailers — as disruptors like Amazon and Netflix change the way consumers do everything from shop to rent movies.
And while some retailers are downsizing, growth is not only physical and top retailers are seeing increased sales. In a recent report by 24/7 Wall St., Casey's General Stores Inc. was named among the fastest growing retailers. In compiling the grouping, 24/7 Wall St. identified the publicly traded companies with the highest annual sales growth as of the 2018 fiscal year.
It only considered those companies with at least 5-percent sales growth in the 2017 fiscal year.
Based in Ankeny, Casey's took the No. 15 spot on the list. According to the ranking's numbers, the c-store retailer saw 11.8-percent sales growth from 2017 to 2018, with $7.51 billion revenue in 2017 and $8.39 billion revenue last year. It has more than 2,000 locations.
"From its first store opening in 1968 in Boone, Iowa, Casey’s General Stores has exploded into a business that operates 2,123 Midwest-based locations, more than half of which are located in areas with 5,000 or fewer people," the report said.
"The stores are set up as self-service gas stations attached to convenience stores that are stocked with prepared foods like pizza and sandwiches as well as an array of grocery items," it added.
The report noted Casey's acquisition of the Fantasy's Convenience c-store chain and its Ride the Wave car washes in March as part of its growth.
The convenience retailer plans to perform significant remodels at all nine of the acquired stores, as Convenience Store News previously reported.
According to 24/7 Wall St., Gaia Inc. was the fastest growing retailer. It was followed by Wayfair, Etsy, Amazon.com and Lululemon Athletica to round out the top five retailers.
Casey's secured the No. 5 spot on the 2019 Convenience Store News Top 20 Growth Chains ranking by adding 95 convenience stores between January 2018 and January 2019.