Canadian convenience retailer Couche-Tard has booked a jump in third-quarter earnings, with a higher contribution from merchandise sales boosting the bottom line.
Net earnings during the third-quarter rose 28.1% to C$182.3m. Excluding one-time items, net earnings would have been approximately $175m compared with$153m for the third quarter of fiscal 2013. EBITDA increased by 7.5% compared to the corresponding period of the previous fiscal year, reaching $425.1m.
Go deeper with GlobalData
Sales dropped to $11.1bn, a decrease of 3.3% on the year. Couche-Tard attributed the decline to the , divesture of our European Liquefied Petroleum Gas business. Same-store merchandise revenues up 3.8% in the U.S., 0.9% in Europe and 2.2% in Canada, the company stressed.
Seperately, the group said long-time chief executive Alain Bouchard will stand down and take on a role as executive chairman. He will be replaced by COO Brian Hannasch.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
