Alimentation Couche-Tard earnings drop as consumers watch spending

  • 📰 SooToday
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 85%

Business News News

Business Business Latest News,Business Business Headlines

LAVAL, Que. — Alimentation Couche-Tard Inc. says its net earnings fell by almost a third in its fourth quarter as inflation-squeezed consumers watch their spending.

The convenience store giant says net earnings attributable to shareholders totalled $453 million in the quarter ending April 28, down from $670.7 million in the same quarter last year.

The company says the earnings decline was in part from lower gross margins on fuel, the quarter being a week shorter than last year, and expenses and deprectiaion related to investments and acquisitions. Same-store merchandise revenue was down 0.5 per cent in the U.S., by two per cent in Europe and by 3.4 per cent in Canada because of lower discretionary spending.

Chief executive Brian Hannasch says in a statement that it was no doubt a challenging quarter, but even with the decline in same-store sales he remains optimistic about the business. To adapt, Hannasch says the company has been working to expand its loyalty program, launch summer drink promotions and improve employee training.The Canadian Press

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Alimentation Couche-Tard earnings drop as consumers watch spendingAlimentation Couche-Tard Inc. says its net earnings fell by almost a third in its fourth quarter as inflation-squeezed consumers watch their spending.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Alimentation Couche-Tard earnings drop as consumers watch spendingThe company says the earnings decline was in part from lower gross margins on fuel, the quarter being a week shorter than last year, and expenses and deprectiaion related to investments and acquisitions
Source: globebusiness - 🏆 31. / 66 Read more »

Alimentation Couche-Tard earnings drop as consumers watch spendingLAVAL, Que. — Alimentation Couche-Tard Inc. says its net earnings fell by almost a third in its fourth quarter as inflation-squeezed consumers watch their...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »