From Motley Fool contributor Brian Stoffel:
But when it comes to prepared foods, things aren’t looking good. Yes, it helps over the short term that margins have performed better than expected. But as Myers explained, that was “primarily due to lower commodity costs” – something that’s largely out of the company’s control.
What’s far more alarming is the trend in Prepared Food comps: 10.3% and 9.4% growth in the first two fiscal quarters – both very good, but also below management’s expectations – followed by a much worse 6% bump in the third quarter.
And it didn’t seem like there was much of an explanation from the company. Though Casey’s conference call is scheduled for Tuesday at 10:30 a.m. ET, Myers – through the company’s press release – said, “Challenging weather and strong prior year sales comparisons resulted in same-store sales falling below goal in this quarter.”
Read the entire article at http://www.fool.com/investing/general/2016/03/08/this-is-wha…
Have not gone through the conference call yet. Interestingly, Casey’s is now up on the day.
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