Canadian convenience retailer Couche-Tard has reported on net earnings growth of 4.9 per cent for the second quarter of the fiscal year ended 9 October, up to US$113.5m.
According to the group, earnings growth was achieved following a drop in financial expenses, the strenghthening of the Canadian dollar, an increase in sales and a lower income tax rate, Planet Retail reported.
Revenue for the quarter jumped 24.2 per cent to US$5.15bn and same-store sales climbed 3.3 per cent in Canada and 2.5 per cent in the US.
'Consumers continue to be very price-sensitive, forcing us to maintain promotions on certain products to protect traffic, which we successfully have done since the beginning of the year,' said CEO Alain Bouchard.
