Canadian convenience retailer Couche-Tard has confirmed that it plans to divest 75 Circle K stores.

The company official said that the move was part of the "regular" process of "portfolio optimisation", where less profitable outlets were sold off.

While the final list of properties to be sold has not been confirmed, it is understood that properties to be sold will span locations, including Alabama, Colorado, Florida and Tennessee.

Earlier this month, Couch-Tard posted a 34.1% jump in annual net earnings. During the year, Couche-Tard increased its number of stores from 5,119 to 5,443.