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ALIMENTATION COUCHE-TARD $49.82 (Toronto symbol ATD.B: TSINetwork Rating: Extra Risk) (1-800-361-2612; www.couche-tard.com; Shares outstanding: 418.1 million; Market cap: $29.0 billion; Dividend yield: 0.4%) (All amounts except share price and market cap in U.S. dollars) operates 6,314 convenience stores throughout North America. Canadian outlets operate under the Couche-Tard and Mac’s banners, while the U.S. stores mainly use the Circle K brand.
In Europe, Couche-Tard operates 2,233 stores across Scandinavia, Poland, the Baltic States (Estonia, Latvia and Lithuania) and Russia.
In the three months ended February 1, 2015, Couche-Tard’s sales rose just 1.7%, to $2.33 billion from $2.29 billion a year earlier. The higher U.S. dollar cut the revenue contribution of its European operations.
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In Europe, Couche-Tard operates 2,233 stores across Scandinavia, Poland, the Baltic States (Estonia, Latvia and Lithuania) and Russia.
In the three months ended February 1, 2015, Couche-Tard’s sales rose just 1.7%, to $2.33 billion from $2.29 billion a year earlier. The higher U.S. dollar cut the revenue contribution of its European operations.
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ALIMENTATION COUCHE-TARD INC., $49.29, symbol ATD.B on Toronto, operates 6,314 convenience stores throughout North America. The Canadian outlets operate under the Couche-Tard and Mac’s banners, while the U.S. stores mainly use the Circle K brand. In Europe, Couche-Tard operates 2,233 stores across Scandinavia (Norway, Sweden and Denmark), Poland, the Baltic States (Estonia, Latvia and Lithuania) and Russia. In the three months ended February 1, 2015, Couche-Tard’s sales rose just 1.7%, to $2.33 billion from $2.29 billion a year earlier (all figures except share price in U.S. dollars). The higher U.S. dollar cut the revenue contribution from the company’s European operations....
ALIMENTATION COUCHETARD $44.55 (Toronto symbol ATD.B; TSINetwork Rating: Extra Risk) (1-800-361-2612; www.couchetard. com; Shares outstanding: 565.8 million; Market cap: $25.4 billion; Dividend yield: 0.4%) is buying The Pantry (symbol PTRY on Nasdaq), which operates more than 1,500 convenience stores in 13 southern U.S. states. Couche-Tard will pay $1.7 billion—$ 860 million in cash and the assumption of $840 million of debt. This is its biggest purchase since it paid $2.7 billion U.S. for Norway’s Statoil Fuel & Retail gas station chain in June 2012. Founded in 1967, The Pantry mainly grew through acquisitions beginning in the late 1980s. Like Couche-Tard, it focuses on selling higher-margin fresh food. It sells its own private-label bottled water and is the fifth-largest location for Subway restaurants....
METRO INC. $92 (Toronto symbol MRU; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 84.5 million; Market cap: $7.8 billion; Price-to-sales ratio: 0.6; Dividend yield: 1.3%; TSINetwork Rating: Average; www.metro.ca) operates 600 grocery stores and 250 drugstores in Quebec and Ontario.
In its 2014 fiscal year, which ended September 27, 2014, Metro’s earnings rose slightly, to $460.9 million from $460.7 million in fiscal 2013. The company spent $459.7 million on share buybacks in the past year, which is why its earnings per share gained 8.5%, to $5.13 from $4.73.
Overall sales rose 1.7%, to $11.6 billion from $11.4 billion, while same-store sales gained 1.1%. Higher food prices were the main reason for these gains. As well, the company recently paid $101.6 million for 75% of privately held bakery Première Moisson, which has 23 stores and three production facilities in Quebec.
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In its 2014 fiscal year, which ended September 27, 2014, Metro’s earnings rose slightly, to $460.9 million from $460.7 million in fiscal 2013. The company spent $459.7 million on share buybacks in the past year, which is why its earnings per share gained 8.5%, to $5.13 from $4.73.
Overall sales rose 1.7%, to $11.6 billion from $11.4 billion, while same-store sales gained 1.1%. Higher food prices were the main reason for these gains. As well, the company recently paid $101.6 million for 75% of privately held bakery Première Moisson, which has 23 stores and three production facilities in Quebec.
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Canada’s supermarkets are doing a good job of competing with U.S. retail giants like Wal-Mart, which are aggressively expanding in the grocery market. In addition to improving their efficiency, the Canadian firms are buying other chains, like drugstores and specialty bakeries, that nicely complement their main businesses. LOBLAW COMPANIES LTD. $59 (Toronto symbol L; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 412.8 million; Market cap: $24.4 billion; Price-to-sales ratio: 0.6; Dividend yield: 1.7%; TSINetwork Rating: Above Average; www.loblaw.ca) is Canada’s largest food retailer, with about 1,050 stores. The company is benefiting from sales of other products beyond food. For example, in 2006 it launched its popular Joe Fresh line of clothing, shoes and accessories....
ALIMENTATION COUCHETARD $44.55 (Toronto symbol ATD.B; TSINetwork Rating: Extra Risk) (1-800-361-2612; www.couchetard. com; Shares outstanding: 565.8 million; Market cap: $25.4 billion; Dividend yield: 0.4%) is buying The Pantry (symbol PTRY on Nasdaq), which operates more than 1,500 convenience stores in 13 southern U.S. states.
Couche-Tard will pay $1.7 billion—$ 860 million in cash and the assumption of $840 million of debt. This is its biggest purchase since it paid $2.7 billion U.S. for Norway’s Statoil Fuel & Retail gas station chain in June 2012.
Founded in 1967, The Pantry mainly grew through acquisitions beginning in the late 1980s. Like Couche-Tard, it focuses on selling higher-margin fresh food. It sells its own private-label bottled water and is the fifth-largest location for Subway restaurants.
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Couche-Tard will pay $1.7 billion—$ 860 million in cash and the assumption of $840 million of debt. This is its biggest purchase since it paid $2.7 billion U.S. for Norway’s Statoil Fuel & Retail gas station chain in June 2012.
Founded in 1967, The Pantry mainly grew through acquisitions beginning in the late 1980s. Like Couche-Tard, it focuses on selling higher-margin fresh food. It sells its own private-label bottled water and is the fifth-largest location for Subway restaurants.
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PLEASE NOTE: This is our last Hotline for 2014. Our next Hotline will go out on Friday, January 9, 2015. SHERRITT INTERNATIONAL, $3.23, symbol S on Toronto, has jumped over 42% this week after Cuba and the U.S. announced that they will re-establish diplomatic ties. The company has operated in Cuba for over 20 years and gets about 74% of its revenue from the country. Its Cuban operations include 50% of the Moa nickel and cobalt joint venture, as well as power plants and oil and gas projects. Sherritt is Cuba’s largest foreign investor....
YAMANA GOLD $4.38 (Toronto symbol YRI; TSINetwork Rating: Speculative) (416-815-0220; www.- yamana.com; Shares outstanding: 880.8 million; Market cap: $3.9 billion; Dividend yield: 1.6%) owns eight operating gold mines in Mexico, Brazil, Chile and Argentina. It also holds a 12.5% stake in the Alumbrera copper/gold mine in Argentina and has a number of other properties in advanced stages of development. Yamana now plans to form a subsidiary to hold some of its Brazilian assets. This will let the company focus on its main projects, including the Canadian Malartic gold mine in Quebec, in which it owns a 50% stake. The new subsidiary, to be named Brio Gold Inc., will hold Yamana’s Fazenda Brasileiro and Pilar gold mines, as well as its C1 Santa Luz development project. Yamana will retain its Chapada and Jacobina mines in Brazil....
TIM HORTONS INC., $96.97, symbol THI on Toronto, shareholders will vote on the friendly takeover offer from BURGER KING WORLDWIDE, $34.81, symbol BKW on New York, on Tuesday, December 9, 2014. If the deal is approved, Tim Hortons investors will have a number of options: They can sell their shares on the Toronto exchange and receive the current trading price of $96.97 (less brokerage commissions). If they don’t do that, they can opt for one of the three choices below by notifying their brokers no later than 5:00 p.m. on Tuesday, December 9, 2014....
ALIMENTATION COUCHE-TARD $42.54 (Toronto symbol ATD.B; TSINetwork Rating: Extra Risk) (1-800-361-2612; www.couche-tard.com; Shares outstanding: 565.8 million; Market cap: $24.4 billion; Dividend yield: 0.4%) has successfully rolled out its Simply Great Coffee program in Europe.
The company says the program’s launch at 20% of its Statoil Fuel & Retail locations last spring boosted those stores’ coffee sales by more than 10%.
Couche-Tard now plans to test the concept in more Canadian markets. It began selling its own brand of coffee in Sherbrooke, Quebec, this summer and will add about 20 locations in two different Canadian test markets in the coming months.
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The company says the program’s launch at 20% of its Statoil Fuel & Retail locations last spring boosted those stores’ coffee sales by more than 10%.
Couche-Tard now plans to test the concept in more Canadian markets. It began selling its own brand of coffee in Sherbrooke, Quebec, this summer and will add about 20 locations in two different Canadian test markets in the coming months.
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