Alimentation CoucheTard bracing for Hurricane Dorian to hit US stores

Companies in this story: (TSX:ATD.B)The Canadian Press LAVAL, Que. — The owner of Circle K is bracing for damage as Hurricane Dorian hits the southeastern U.S. where it has hundreds of convenience stores.Alimentation Couche-Tard chief executive Brian Hannasch says the Quebec-based retailer is watching the situation closely.He says the safety of its thousands of employees is the primary concern but the company is also committed to help customers weather the storm storms as they prepare for Dorian and recover from the fallout.Hannasch also told analysts Thursday that the company remains “very confident” about its strategy to double its business by 2023 despite the current high price of acquisition targets.He says the current conditions won’t last forever and Couche-Tard’s footprint and financial strength put it in a unique position to consider opportunities in the U.S. and globally.The comments came as Couche-Tard discussed its first-quarter results that beat analyst expectations, prompting some to raise their target prices for the company’s shares.The company said after markets closed Wednesday that its net profit attributable to shareholders for the quarter surged 18 per cent year over year to US$538.8 million or 95 cents per diluted share, up from US$455.6 million or 81 cents per share a year earlier.

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