KRIS VAN CLEAVE:
00:00:25
Filling up in Killeen, Texas, the pain at the pump is real. It takes a lot out of your pocket. Too much out of your pocket.
KRIS VAN CLEAVE:
00:00:34
A full 20-gallon tank here costs about $26 more than last Memorial Day. $3.96 instead of $4.12 or $4.20 or what have you. So that's what brought me in here today.
KRIS VAN CLEAVE:
00:00:47
Casey's general stores is the nation's third largest convenience store, with nearly 3,000 locations across 19 states-- There you go. Thank you. See you later.
KRIS VAN CLEAVE:
00:00:55
--making Memorial Day weekend almost like it's Christmas.
WOMAN:
00:00:59
Y'all have a good one.
KRIS VAN CLEAVE:
00:01:00
Store visits are expected to jump 20%. Well, it's the kickoff of our 100 days of summer.
KRIS VAN CLEAVE:
00:01:05
CEO Darren Rebelez. We would expect to see about 9 million visits through our stores. And we're going to sell a lot of pizza, a lot of beer, a lot of everything. You have a good one. I'll see you in the morning.
KRIS VAN CLEAVE:
00:01:16
2/3 of Casey's locations are in towns of 20,000 people or less.
DARREN REBELEZ:
00:01:21
We are the coffee shop and the pizza place and the grocery store and the convenience store. And the gas station. And the gas station. That's right.
KRIS VAN CLEAVE:
00:01:29
Are you seeing impacts from the higher prices of fuel? The consumer's been hanging in there, and we tend to price our fuel at the lower end. Have a wonderful day. 70% of their sales don't involve fuel at all. It's drinks, groceries, and prepared food. You put a lot of bacon on there.
EMPLOYEE:
00:01:46
We are very bacon friendly.
KRIS VAN CLEAVE:
00:01:47
Consumers are making trade-offs. Casey's self-branded snacks sell for about $1 less than national brands, and sales are up. Have you started to see any change in consumer behavior? Because Domino's, Chipotle, Applebee's all said they saw softening, which they're attributing to higher gas prices. When we get into times like this where budgets are stretched a little bit, we're viewed as a better value option. A lot of folks will come to us because we're a more affordable option. To the extent that pizza is reflective of the US economy, Casey's is the fifth largest seller of pizza in the US, priced a few dollars below its competitors. That's what he means by value options, people choosing to come here and save a few dollars than eat out elsewhere. Of course, today being a huge driving day, they expect to be very busy. For CBS Mornings, I'm Kris Van Cleave in Nashville.
