The Globe and Mail reports in its Wednesday, Nov. 26, edition that Alimentation Couche-Tard is raising its bets that meal-deal promotions will be a major driver of growth for its business in the months ahead as it plots its next takeover in an industry still ripe for consolidation. The Globe's Nicolas Van Praet writes that
Couche-Tard said Tuesday that its calorie-bomb combinations, such as a hot dog, bag of chips and fountain soda for $3, are gaining popularity and that it plans to expand the program (all figures U.S.). After a launch in the United States in late 2024 and in Canada earlier this year, the company says it is now selling one million meal bundles a week at its stores in North America alone, helping fuel store traffic and profit.
"We think we've really found something here that is really resonating with consumers that are strapped for cash," Couche-Tard chief executive officer Alex Miller told analysts on Tuesday. "We're just getting started." Promotions on food and gasoline helped the company deliver same-store sales growth across all its geographies for the second consecutive quarter, fuelling a net profit of $740.6-million or 79 cents a share for the three-month period ending Oct. 12.
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