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Alimentation Couche-Tard Inc. reported a 15.5% decline in Q3 net earnings to $623.4M due to lower US road fuel margins and softer customer traffic.
Alimentation Couche-Tard Inc., a Laval, Quebec-based convenience store operator, reported a 15.5% decline in net earnings for the third quarter, totaling US$623.4 million from US$737.4 million a year ago.
The company attributed the lower earnings to a lower average road transportation fuel gross margin in the U.S. and softer customer traffic amid challenging economic conditions.
The company aims to provide value to customers by expanding its private-label options, rolling out its loyalty program, and offering recurring Fuel Day promotions.
Couche-Tard completed the acquisition of European retail assets from TotalEnergies in January, adding four new countries and 2,175 additional stores to its network.
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