Casey's Flags Weakness in Snacks, Beer and Cigarettes

Dow Jones
17小時前

1201 ET - Casey's General Stores says it is seeing the most weakness in beer, snacks and cigarettes. National brands for those industries have raised prices, deterring some consumers, executives say on a call with analysts. Snack companies in particular have raised prices, particularly on chips: "They just priced themselves out of the market, frankly," one executive says. Lower demand for non-premium beer and cigarettes are part of a broader industry slowdown that has been going on for years, the executives say. Liquor and nicotine alternatives, such as oral pouches, have helped offset some of the slower sales in beer and cigarettes, they say. Casey's shares fall 15%.

 

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