Lower gas prices helped the Ankeny Iowa based Casey’s convenience store chain offset a downturn in store traffic to increase its earnings in the first quarter of the fiscal year compared to last year. Casey’s reports earnings were one dollar, 70 cents a share compared to one dollar, 57 cents a share one year ago. Casey’s Chief Financial Officer, Bill Walljasper, discussed the quarter in a conference call, and says the number of gallons of gas increased by more than three percent in the quarter.

 

Walljasper says store traffic was off at the start of the quarter in July due to bad weather.

 

Walljasper says the down farm economy also contributed to declines in customer traffic.

Walljasper says while many retailers in the food service industry are seeing a slowdown, Casey’s continues to see strong sales.