Alimentation Couche-Tard sees profits increase despite dipping sales.
The Laval, Que.-based convenience-store giant booked net profit of $286.4-million (U.S.) or 50 cents per share, up from $229.8-million or 40 cents in the like period last year.
Sales were $8.9-billion, down $65.5-million or 0.7% from the previous year.
Alimentation Couche-Tard Inc. is the largest convenience-store operator in Canada and has a considerable presence in the U.S. with its Circle K divison. The company operates a network of about 6,200 convenience stores in the U.S. and Canada, including more than 3,000 corporate stores in the U.S., plus another 800 dealer-operated or licensed stores.
The company also operates Mac’s Convenience Stores in Canada.