Couche-Tard Inc. reports Q1 profit down from last year as consumers watch spending | Canada News Media
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Couche-Tard Inc. reports Q1 profit down from last year as consumers watch spending

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LAVAL, Que. – Alimentation Couche-Tard Inc. says net earnings slipped in its first quarter of fiscal 2025 as consumers continue to watch their spending.

The convenience store giant says it had net earnings attributable to shareholders of US$790.80 million in the quarter, down from US$834.1 million in the same quarter last year.

Earnings worked out to 83 cents a share, down from 85 cents a share last year, while analysts had expected earnings of 84 cents, according to LSEG Data & Analytics.

The company says revenues totalled $18.3 billion, up from US$15.6 billion last year, boosted largely by its European operations after buying retail assets from French oil giant TotalEnergies SE.

Chief executive Brian Hannasch says that as weakness in consumer behaviour persists, the company is focused on its long-term strategy.

He says the fragmented U.S. market offers consolidation opportunities, as seen by its recently announced acquisition of GetGo Café + Market, while the company has also recently courted Japan-based 7-Eleven owner Seven & i Holdings Co. Ltd.

This report by The Canadian Press was first published Sept. 4, 2024.

Companies in this story: (TSX:ATD)

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End of Manitoba legislature session includes replacement-worker ban, machete rules

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WINNIPEG – Manitoba politicians are expected to pass several bills into law before the likely end of legislature session this evening.

The NDP government, with a solid majority of seats, is getting its omnibus budget bill through.

It enacts tax changes outlined in the spring budget, but also includes unrelated items, such as a ban on replacement workers during labour disputes.

The bill would also make it easier for workers to unionize, and would boost rebates for political campaign expenses.

Another bill expected to pass this evening would place new restrictions on the sale of machetes, in an attempt to crack down on crime.

Among the bills that are not expected to pass this session is one making it harder for landlords to raise rents above the inflation rate.

This report by The Canadian Press was first published Nov. 7, 2024

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Father charged with second-degree murder in infant’s death: police

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A Richmond Hill, Ont., man has been charged with second-degree murder in the death of his seven-week-old infant earlier this year.

York Regional Police say they were contacted by the York Children’s Aid Society about a child who had been taken to a hospital in Toronto on Jan. 15.

They say the baby had “significant injuries” that could not be explained by the parents.

The infant died three days later.

Police say the baby’s father, 30, was charged with second-degree murder on Oct. 23.

Anyone with more information on the case is urged to contact investigators.

This report by The Canadian Press was first published Nov. 7, 2024.

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Ontario fast-tracking several bills with little or no debate

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TORONTO – Ontario is pushing through several bills with little or no debate, which the government house leader says is due to a short legislative sitting.

The government has significantly reduced debate and committee time on the proposed law that would force municipalities to seek permission to install bike lanes when they would remove a car lane.

It also passed the fall economic statement that contains legislation to send out $200 cheques to taxpayers with reduced debating time.

The province tabled a bill Wednesday afternoon that would extend the per-vote subsidy program, which funnels money to political parties, until 2027.

That bill passed third reading Thursday morning with no debate and is awaiting royal assent.

Government House Leader Steve Clark did not answer a question about whether the province is speeding up passage of the bills in order to have an election in the spring, which Premier Doug Ford has not ruled out.

This report by The Canadian Press was first published Nov. 7, 2024.

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