LAVAL, Que. — Canadian convenience store giant Alimentation Couche-Tard reported earnings for the second quarter ended Oct. 9 were up 16.6 per cent.Â
Net earnings for the quarter were $810.4 million, or 79 cents per diluted share, up from $694.8 million or 65 cents per diluted share a year earlier.Â
The Quebec-based company says its total revenues were $16.9 billion, up 19.7 per cent from last year.
This was largely due to a 24.3 per cent increase in road transportation fuel revenues as gas prices rose, while merchandise and service revenues were up 2.3 per cent.Â
Same-store merchandise revenues were up in the U.S., Europe and other regions, but were down in Canada, the company said.Â
Couche-Tard president and CEO Brian Hannasch said the company has piloted its new loyalty program in the U.S. and a new tiered concept in Europe, and is preparing for expansions on those pilots in the upcoming quarters.Â
This report by The Canadian Press was first published Nov. 22, 2022.
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