ACT Reports Increase in Merchandise and Service Revenue

Circle K parent company Alimentation Couche-Tard reported this week that total merchandise and service revenue for the quarter ended April 26 increased 7.7% to $4.5 billion. 

Same-store merchandise revenue increased 3.4% in the U.S. and 1.1% in Europe and other regions, but decreased 0.9% in Canada, the earnings release said. 

“Our focus on delivering on our customer promise through our Core + More strategy is driving strong momentum across our U.S. business, with improved traffic and ongoing growth in key categories such as food and packaged beverages; meanwhile, our teams are leaning into the strength and agility of our fuel supply chain as well as our global scale to capture opportunities across our network as market conditions evolve,” said CEO and President Alex Miller in the release. “Overall, the commitment and resilience of our teams is reinforcing the progress we are making in the business as we continue to win in the markets we serve."

The company introduced its “Core + More” strategy earlier this year. 

Net earnings attributable to shareholders in the fourth quarter were $863.4 million, up from $439.4 million year over year. Adjusted net earnings attributable to shareholders were approximately $667 million compared with $441 million for the same period last year. 

Same-store road transportation fuel volume decreased by 2.1% in the U.S. and by 4.4% in Europe and other regions, the report said. It increased 2% in Canada. 

Circle K this month also partnered with Butterfinger for new limited-time bakery items including Butterfinger Brownie, Butterfinger Cookie and Butterfinger Rice Crispy.

Strategic planning