Biz Buzz: Casey's seeks option for gas station, store in Baxter
BAXTER--Sold signs on the former Imgrund auto business and a pending sale sign on the neighboring land along Baxter Drive and Highway 210 may indicate a future gas station and convenience store project.
BAXTER-Sold signs on the former Imgrund auto business and a pending sale sign on the neighboring land along Baxter Drive and Highway 210 may indicate a future gas station and convenience store project.
The agenda at the June 13 planning and zoning meeting at Baxter City Hall included a preliminary and final plat for a Casey's Addition and rezoning from industrial office to a regional commercial for a motor fuel station and convenience store.
The request for the changes came from Casey's Retail Co. based in Ankeny, Iowa.
According to Casey's corporate information there are 1,963 store locations as of March of this year. In a news release earlier this month, Casey's reported it is positioned for strong growth.
"Despite a challenging operating environment, fiscal 2017 marked the 16th consecutive year of positive same-store sales growth in both the grocery and other merchandise and prepared food and fountain categories," said Terry Handley, president and CEO. "We also recently opened our first store in the state of Ohio, and now have 116 sites under agreement for new store construction. We are optimistic about our growth opportunities."
As far as fuel, the company stated: "For fiscal 2017, total gallons sold were up 5.6 percent to 2.1 billion. Gross profit dollars for the year were down slightly to $378.3 million, primarily due to a 1.2 cents per gallon lower fuel margin partially offset by an increase in gallons sold."
At the general stores with grocery and other merchandise, Casey's reported: "For the year, total sales were up 5.7 percent to $2.1 billion and gross profit dollars increased 4.4 percent to $657.2 million."
And in the prepared food and fountain category: Casey's noted it was a challenging environment for the broader food service industry but the company was encouraged as it continues to enhance digital engagement with customers and rolls out operational growth programs to more stores. And Casey's stated total sales and gross profits both increased. Gross profit dollars were reported at $594 million or a 7.9 percent increase.
"The company's annual goal for fiscal 2017 was to build or acquire 77 to 116 stores, replace 35 existing locations, and complete 100 major remodels. For the fiscal year, the company built and opened 48 new stores, acquired 22 stores, completed 21 replacements, and remodeled 103 stores. As of April 30, 2017, there were 27 new stores, 21 replacement stores, and 11 major remodel stores under construction.
"Finally, at fiscal year end, the company had 116 sites under agreement for new store construction and five acquisition stores under agreement to purchase."
"Our new store construction activity continues to gain momentum," stated Handley in a corporate news release. "The growing pipeline of sites under agreement has the company well positioned for significant increase in organic growth. The company will continue to review acquisitions that are a strategic fit."
For those who have voiced a desire for a gas station option in this corridor between options in Baxter along Highway 371 and in Brainerd by North Fourth Street, it appears there may be a solution coming. The recommendations from the commission will go to the Baxter City Council. Stay tuned.