Couche-Tard profit doubles on higher merchandise sales

Fri Aug 30, 2013 8:58am EDT

Aug 30 (Reuters) - Canada's Alimentation Couche-Tard reported a first-quarter profit that more than doubled on stronger merchandise sales at its convenience stores.

The company, which also operates gasoline stations, raised its quarterly dividend by about 17 percent.

Net profit rose to $255.0 million, or $1.35 per share, in the quarter ended July 21, from $102.9 million, or 57 cents a share, a year earlier.

Total revenue jumped 48 percent to $8.90 billion.

Same-store merchandise sales rose 2.7 percent in the United States. It rose 0.7 percent in Canada and 1.9 percent in Europe.