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Casey's Unveils New Look, Offers Modern Guest Experience

Casey's General Stores, Inc. CASY is among those retailers who constantly undertake measures to maximize consumers’ shopping experience. In recent developments, the company has rebranded itself with an aim to offer guests the modern experience with a brand update to Here For Good. In addition, management is keen on strategic endeavors including loyalty program, digital expansion and curbside pickup.

Notably, Casey’s will initially feature the new look in its hometown of Ankeny, IA. This store will continue to offer the same quality freshly baked donuts and made-from-scratch pizzas with an upgraded guest experience. Meanwhile, management will start rolling out the new branding at its roughly 2,200 convenience stores and online channels.

Certainly, Casey's remains on track with its value-creation plan to improve sales and profitability. This includes fleet card program, price and product optimization, loyalty program, digital engagements comprising mobile app and online ordering capabilities, cost containment efforts as well as capital reallocation plan.

Furthermore, it has also been strengthening pizza promotions for guests who are seeking meal solutions. Apparently, the company is enhancing delivery capabilities via DoorDash, increasing online grocery items at all outlets and providing curbside-pick-up option to guests. We note that digital sales surged 162% during the first quarter of fiscal 2021.

Aforementioned robust strategies have aided this Zacks Rank #1 (Strong Buy) stock to gain 20% over the past three months and outperform the industry’s 8.4% increase. The stock got a boost following the company’s first-quarter fiscal 2021 results, wherein the bottom line not only came ahead of the Zacks Consensus Estimate, but also increased year over year. Notably, improved sales volume, coupled with better expense management and strong fuel margin, contributed to bottom-line growth. Inside sales, which comprises Grocery & Other Merchandise as well as Prepared Food & Fountain categories, increased 1.9% during the quarter.

More Key Picks in Retail

Target TGT has a long-term earnings-growth rate of 7.2% and currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Tapestry TPR also a Zacks Rank #1 stock, has a long-term earnings-growth rate of 9.3%.

Sprouts Farmers Market SFM has a long-term earnings-growth rate of 9.2% and a Zacks Rank #2 (Buy).

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Target Corporation (TGT): Free Stock Analysis Report
 
Caseys General Stores, Inc. (CASY): Free Stock Analysis Report
 
Sprouts Farmers Market, Inc. (SFM): Free Stock Analysis Report
 
Tapestry, Inc. (TPR): Free Stock Analysis Report
 
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