By Canadian Press

Alimentation Couche-Tard seeing low-income customers cut back on store visits: CEO

Mar 21, 2024 | 6:30 AM

LAVAL, Que. — The head of Alimentation Couche-Tard Inc. says lower income consumers feeling strained by economic headwinds are cutting back on how often they visit the chain’s convenience stores. 

Brian Hannasch says these customers are also adopting more value-seeking behaviour and in some cases, trading down for products they see as more affordable.

He’s seeing these habits crop up most in the company’s salty, confectionary and grocery categories, which Hannasch says are the softest part of its business.

To handle these trends, Alimentation Couche-Tard has focused on marketing its private-label products, growing its loyalty program and offering Fuel Day promotions.

Hannasch’s remarks come a day after his company reported its net earnings attributable to shareholders were US$623.4 million in its third quarter, down 15.5 per cent from US$737.4 million a year earlier.

Looped In

LOOPED IN WITH NIKKI OMEN: December 12, 2024

38m ago

One Man's Opinion

COLLINS: North Shore BIA working hard to develop a 'happening place'

6h ago

1000 Ways to Heal

1000 Ways to Heal: Moons

Dec 10, 2024

The Laval, Que.-based company, which reports in U.S. dollars, says revenues for the quarter ended Feb. 4 totalled US$19.6 billion, down from US$20.1 billion during the same quarter last year.

This report by The Canadian Press was first published March 21, 2024.

Companies in this story: (TSX:ATD)

The Canadian Press