Cost of living, fuel has Couche-Tard customers cutting back on snacks
The convenience store chain's chief executive Alex Miller says shoppers are being more deliberate about their purchases as the cost of living and fuel rises.
Pocketbook pressures, exacerbated by rising fuel costs and the overall cost of living, are prompting some consumers to reduce their spending on snack foods at Alimentation Couche-Tard Inc. convenience stores, according to the company's CEO Alex Miller. Miller noted that shoppers are becoming more deliberate in their purchasing decisions, leading to a decline in sales of packaged carbonated soft drinks, salty snacks, and sweets.
In response to this shift in consumer behavior, Couche-Tard is adjusting its operations by reallocating shelf space, refining its product assortment, and tweaking promotional strategies to better align with the current demand. This development follows Couche-Tard's announcement of a US$828.5 million net earnings attributable to shareholders in the first quarter, marking an increase from US$782.5 million in the same period last year, coupled with a rise in revenues to US$21.7 billion from US$17.3 billion a year earlier.
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