Casey’s Announces Plans to Open 120 New Stores

Casey’s announced in its most recent earnings call that it plans to open “at least 120 stores in fiscal 2027 through a mix of M&A and new store construction.”

The move comes after a “record fiscal year,” according to president and CEO Darren Rebelez, during which the company saw a 30.7% increase in net income to $714.4 million. EBITDA was nearly $1.5 billion, up 23.6%, from the prior year.

Notably, this marks the first year of Casey’s inclusion on the S&P 500 — an index that tracks the performance of many of the largest publicly traded companies in the U.S.

The inclusion of Casey’s in the S&P 500, according to a statement from the retailer, underscores its strong financial performance, ratable growth and resilient operating model.

“Being added to the S&P 500 marks a significant milestone that reflects the enduring strength of our business,” said Rebelez in April. “We remain committed to disciplined growth, delivering exceptional experiences to our guests and creating long-term value for our shareholders.”

Additionally for the full year, Casey’s Rewards grew to nearly 10.5 million members and the chain expanded its sauced wings program to nearly 850 stores.

“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,” said Rebelez. “Inside same-store sales for the year were extremely strong, up 4.

2%, or 7% on a two-year stack basis, led by strong performance in prepared foods and non-alcoholic beverages. Our fuel team did a great job balancing gallons sold with fuel margin, as fiscal 2026 fuel gross profit increased 21% from the prior year. The operations team performed exceptionally well over the course of the year as we reported substantial EBITDA growth while same-store labor hours were slightly favorable for the year.”

Casey’s expects net interest from its 120-store expansion to be approximately $95 million. Depreciation and amortization is expected to be about $490 million and the purchase of property and equipment is expected to be roughly $800 million.