CANADA: Couche-Tard profits hit by gas margin
By: just-food.com | 9 March 2010
Canadian retailer Alimentation Couche-Tard said today (9 March) that its third-quarter profits dropped 23% despite increased sales, as lower US gas margins hit earnings.
The company, which operates Circle K convenience stores and forecourts throughout North America, said profits totalled C$54.8m (US$53.5m) in the three months to 31 January, down from C$71.1m last year.
Nevertheless, Couche-Tard's sales jumped 26.2% to C$4.94bn on higher gas prices and a stronger Canadian dollar.
However, gross fuel margin in the US fell 29.3%, the company said.
Alain Bouchard, CEO and president, said that the result was “satisfying” given the pressure on gross fuel margins.
“We are evolving in a difficult economic situation but we continued to deliver solid sales and profitability indicators,” CFO Raymond Pare added.
Sectors: Retail
Companies: Couche-Tard
View next/previous articles
9 Mar 2010 -
9 Mar 2010 -
Currently reading -
CANADA: Couche-Tard profits hit by gas margin
9 Mar 2010 -
9 Mar 2010 -
Related research
In 2009, the economic downturn had severe repercussions on the Canadian economy, such as rising unemployment, declining consumer consumption, and precarious consumer confidence. All of these unfavourable factors greatly hampered spending and retail s...












There are currently no comments on this article
Be the first to comment on this article