Alimentation Couche-Tard, symbol ATD.B on Toronto, is the largest convenience-store operator in Canada, with over 2,000 outlets. It is also one of the Canadian investments with the biggest presence in the U.S., at nearly 3,700 U.S. stores. The Canadian stores operate under the Couche-Tard and Mac’s banners, while the U.S. stores mainly use the Circle K brand.
Last month, Couche-Tard announced that it has agreed to buy 33 On the Run convenience stores in southern Louisiana from ExxonMobil (symbol XOM on New York) for an undisclosed amount.
Couche-Tard will buy the land and buildings for 27 of these locations and will assume or enter into leases for the six remaining sites. According to the company, these stores are all highly visible and are located on well-travelled roads.
Couche-Tard will convert the 33 stores to its Circle K brand, although they will continue to sell Exxon-branded fuel. Exxon customer will still be able to use their ExxonMobil credit cards and Speedpass devices.
In the three months ended July 17, 2011, this Canadian investment’s earnings rose 9.9% to $139.5 million, or $0.76 a share. A year earlier, it earned $126.9 million, or $0.68 a share (all figures in U.S. dollars).
Sales rose 23.9% to $5.2 billion from $4.2 billion. The gains came from higher fuel prices, the stronger Canadian dollar and higher merchandise sales. The company gets 30.2% of its sales by selling merchandise.
Couche-Tard continues to introduce new products with higher profit margins, including new drinks and improved fresh and take-out food.
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