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Couche-Tard CFO resigns; company to buy 18 stores in Texas
One of the world’s largest C-store operators is searching for a new CFO as the company expands its reach in the southern United States with a deal to buy 18 convenience stores operating under the Texas Star brand.
Alimentation Couche-Tard Inc. announced that Vice President and Chief Financial Officer Raymond Paré has resigned. It also announced a deal to acquire 18 convenience stores in the Souhwest, which will be converted to the Circle K brand and will continue to sell Shell and CITGO-branded fuel. The deal is expected to close by next April.
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CST profit, revenue miss Street in Q2
San Antonio – Convenience and fuel store operator CST Brands Inc. was not able to rev up profits and sales to Wall Street expectations in the second quarter of fiscal 2015. Increased total operating expenses helped drive net income down 22% to $25 million from $32 million a year earlier.
Operating revenues also fell 22%, to $2.55 million from $3.26 million. Lower per gallon selling prices for both the U.S. and Canadian retail segments, as well as a weaker Canadian dollar, negatively impacted revenues.
