First-quarter net income fell one per cent year-on-year for the Canadian owner of Circle K, as lower- and middle- class shoppers controlled their spending. The results were still better than analysts expected, and chief financial officer Filipe Da Silva said on an earnings call he sees opportunities to acquire struggling rivals. (The Logic)
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First-quarter net income fell one per cent year-on-year for the Canadian owner of Circle K, as lower- and middle- class shoppers controlled their spending. The results were still better than analysts expected, and chief financial officer Filipe Da Silva said on an earnings call he sees opportunities to acquire struggling rivals. (The Logic)
Talking point: Shares rose more than six per cent on Wednesday as the Quebec giant hinted at plans to re-open its financial war chest following its failed bid to buy 7-Eleven-owner Seven & i. The company’s first-quarter revenue of US$17.3 billion fell slightly short of the US$17.8 billion expected by analysts, according to Visible Alpha. But CEO Alex Miller said the company has benefitted from increased alcohol sales now allowed in Ontario. “It’s a priority for us to continue to consolidate” in North America, Da Silva said.
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