Couche-Tard falls most in two years on slow U.S. store sales

|By:, SA News Editor

Shares of Circle K owner Alimentation Couche-Tard (OTCPK:ANCUF -6.6%) plunge by the most in two years after the company reports much worse than expected Q4 earnings and weak same-store sales.

The company says Q4 same-store merchandise revenue rose just 0.1% in the U.S., its biggest market, compared with a 1.9% increase in the year-ago quarter, and same-store road transportation fuel volume fell 0.4%, with fuel margins dropping $0.026/gal.

Couche-Tard says same-store sales at CST, the gas station company it bought for nearly $4B last year, fell 1% but are improving; also, fuel volumes decreased in Texas as stores recovered from Hurricane Harvey.

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