(Radio Iowa) - The Ankeny-based Casey's convenience store chain reports decreased revenue but a 12 percent increase in net income for the fourth quarter compared to last year.
Casey's President Darren Rebelez (Ruh-bell-ez) says that's due in part to continued growth in their prepared food sales. Prepared food sales have increased 14 percent in the last two fiscal years as they have added new items to the menu. He says they have avoided the large inflationary cost increases that restaurants have been having trouble with as most restaurant are franchised and don't have as much ability to absorb the inflation increases.
Rebelez says that's why there have been higher menu prices for their restaurant competitors.