On March 18, Retailer Alimentation Couche-Tard fell short of third-quarter revenue expectations due to sluggish demand in its convenience stores and fuel sectors amidst increasing inflationary pressures.
Consumers experiencing financial constraints have cut back on both luxury and non-essential purchases, raising concerns among retailers like Couche-Tard, the owner of Circle-K.
Major U.S. retailers including Walmart and Target cautioned about a slowdown in demand as they anticipated the effects of import tariffs proposed and implemented by President Donald Trump.
Despite a 6.5% increase in quarterly revenue to $20.90 billion compared to a year earlier, the Canadian company did not meet analysts' projections of an 8% rise to $21.19 billion, as compiled by LSEG.