观点

Casey's 搞定了便利店卖鲜食这件难事，还有十年增长

Third Point 持续加仓 Casey's：它是美国第三大便利店连锁、第五大披萨连锁。勒布认为卖油卖烟容易，大规模卖鲜食很难；Casey's 靠员工留存（门店人手比一般加油站多 40%）做好了食品，单次到店利润更高，于是能在油价和披萨上都打折，形成良性循环。收购 Fike's 进入南方，仅德州就可能再开 2000 家，并购后铺开披萨能让收购倍数从 11 倍降到约 7 倍。

In Casey’s we see a world class management team with a differentiated mousetrap and a decade of profitable growth ahead of them – whether they are labeled a restaurant or a gas station or a general store is semantics.