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Circle K Owner Cites Inflation, Fuel Costs

Bloomberg Markets •
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Convenience and gas station retailer Alimentation Couche-Tard Inc. reported record fuel sales as oil prices soared amid the Middle East conflict, but consumers are also tightening their budgets and visiting stores less often. Shares dropped the most in more than five months. “Elevated living costs and fuel prices continue to weigh on discretionary spending in certain markets,” Chief Executive Officer Alex Miller told analysts Wednesday. “What we are seeing today is a consumer who is increasingly intentional about where they spend, and we are leveraging our strengths to adapt to those changes in behavior.”