LAVAL, Que. — Canada appeared to be a “bright spot” for Alimentation Couche-Tard Inc. in its latest quarter as the convenience store giant battles a slew of pressures.
President and CEO Brian Hannasch told analysts that the company's Canadian operations led the way for a strong start to the convenience store giant's financial year, while U.S. consumers seemingly feeling the financial pinch.
"We continue to see double-digit growth year over year on private label. So that tells me a certain segment of our customer base is stretched ... a little bit.""We continue to see that be a bright spot in our business," Hannasch said. Meanwhile, same-store fuel sales volumes rose 7.2 per cent in Canada, 0.7 per cent in the U.S. and declined 1.5 per cent in Europe and other regions.
The Laval, Que.-based company reported net earnings of US$834.1 million, down from US$872.4 million a year earlier, while revenues fell 16.3 per cent to US$15.6 billion.
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