Changes in US stocks | Same-store sales growth in the first fiscal quarter fell short of expectations Caseys General Stores (CASY.US) plummeted by more than 15%

The Zhitong Finance App learned that on Wednesday, Caseys General Stores (CASY.US) plummeted by more than 15% in early trading, down 32% from its all-time high in June, and is now at $622.54. According to the news, the company's same-store sales growth slowed in the first fiscal quarter and fell short of Wall Street expectations, although both profit and revenue exceeded expectations. The company said on Tuesday evening that in-store same-store sales increased 3.2% year over year in the quarter ending July, compared to a 4.3% increase in the same period last year. The FactSet survey's consensus forecast was a 4.1% increase. Same-store sales growth for groceries and general merchandise slowed from 3.8% to 2.7%.

Caseys General Stores' net earnings per share increased from 5.77 in the same period last year to $7.37, higher than Wall Street's estimate of $6.78. Total revenue increased from $4.57 billion to $5.68 billion, exceeding analysts' average expectations of $5.56 billion. CEO Darren Rebelez said in a statement: “Our three-year strategic plan is off to a good start, with a nearly 28% increase in diluted earnings per share.”