Couche-Tard still aiming for 500 new stores despite cost-of-living hurdles

The CEO of Alimentation Couche-Tard Inc. says the convenience store giant is on track to meet its expansion goals despite cost-of-living concerns among customers. In a conference call Tuesday, Alex Miller said the Laval, Que.-based company still plans to reach its goal of 500 new stores by 2028 — a target it first laid out two years ago. The chief executive says Couche-Tard will open 100 new locations in North America this year, with another 73 stores under construction. It counts 17,270 stores across the globe currently. Miller says sales increased in Canada, the U.S. and Europe despite a “challenging consumer environment,” with food products a particular point of growth. On Monday evening, Couche-Tard reported that profits rose 4.5 per cent year-over-year to US$740.6 million in its second quarter. The company, which keeps its books in U.S. dollars, said revenue increased 2.6 per cent to US$17.9 billion during the period ended Oct. 12.