Casey's Says GLP-1s Aren't to Blame for Slow Snack Sales

Dow Jones
09/10

1229 ET - Casey's General Stores says GLP-1s aren't to blame for slower snack sales. Executives say on an F1Q earnings call that they are still seeing strong sales of their private-label branded snacks, even as overall snack demand declines. Unit sales of national-brand chips were down 8%, while Casey's-branded chips rose 16%, the executives say. They believe this is because snack companies have raised prices on snacks, pricing out many of Casey's customers. The commentary comes after the Canadian convenience-store operator Alimentation Couche-Tard said earlier this month that weight-loss drugs were partly to blame for lower chips and candy sales. Casey's General Stores slides 15%.

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