Casey’s General Stores Inc. (CASY.O), the target of a takeover battle, reported a 3.6 percent rise in August same-store sales for gas and said her gasoline was above the target.
“We expect the positive margin trends continue and gas potential to see them contribute significantly to our results,” Chief Executive Robert Myers said in a statement. Same-store sales for prepared food and fountain rose 3.7 percent, and for grocery and other merchandise rose 4.4 percent in August, the U.S. Midwest convenience-store chain said in a filing with the Securities and Exchange Commission.
* Says gasoline margins were higher than FY 2011 target
* See positive trends in gasoline margins to continue
Of the Ankeny, Iowa-based company, involved in a takeover battle with Alimentation Couche Tard Inc., Canada’s (ATDb.TO), said Thursday that an alternative buy-out of the 7-Eleven has received, sending its shares to a life-high of $ 44.04. They closed $ 43.95 on the Nasdaq.
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