Convenience stores have long drawn regional fans.
East Coast consumers are loyal to Wawa and Sheetz. The West Coast, to 7-Eleven. In the Midwest, there’s a mix of popular chains with varying degrees of devotion, but Iowa-based Casey’s General Stores, or Casey’s, has become the third-largest convenience store chain in the U.S. by going after customers in small towns, mostly in that region.
According to the company, 72% of its stores are located in towns with populations under 20,000 people, or communities that Casey’s CEO, President and Chairman Darren Rebelez called “underserved.”
“There’s literally thousands and thousands of communities in our footprint and around the country that need a Casey’s and don’t have one yet,” Rebelez said.
Casey’s is often one of the few retailers in towns of that size, according to financial services firm Stephens, which has made its food service business so important. Its most famous item is its pizza, which the company makes every day from scratch.
“People love Casey’s pizza. And so I think that affordability and that quality is something that drives their success,” said Pooran Sharma, managing director of equity research at Stephens.
In its fiscal first quarter 2026 earnings posted Monday, Casey’s net profits rose 19.5% from the same quarter the year prior, while total inside sales grew 14.2%. That refers to revenue generated from purchases made inside the store, not including gas.
Overall, the company’s stock has climbed more than 190% since Sept. 11, 2020.
Casey’s has expanded its business by building new stores and acquiring others from smaller competitors. In July 2024, it announced it had bought Fikes Wholesale, owner of CEFCO Convenience Stores, in an all cash transaction for $1.15 billion, its biggest deal to date.
Now it will enter two new markets, Alabama and Florida, and expand its footprint in Texas. Yet that comes as experts say competition among convenience stores is stiffening.
Watch this video to learn more.
