3 Big Numbers is a weekly column that looks at a few key details from around the c-store industry.
Alimentation Couche-Tard’s 2026 investor meeting was a sprawling affair during which numerous company executives shared insights on how the company has performed and provided updates on where it’s going in the next few years.
In this week’s “3 Big Numbers,” we share a few more details from those presentations and look closer at the major areas of focus for the Canadian retailer.
750
The number of new stores Couche-Tard plans to add in the next five years through new builds and small acquisitions.
Growth is top of mind for Couche-Tard, judging by this latest investor event.
Executives highlighted the company’s plan to add 750 company-operated Circle K convenience stores to its network in the next five years through a mix of new builds and small acquisitions.
Separately, Couche-Tard also remains open to larger buyouts of regional chains. In the past, that’s included both smaller chains, like the 20-store Hutch’s chain that it agreed to buy in late 2024, and much larger competitors, such as the 270-site GetGo Cafe + Market, which it acquired from grocer Giant Eagle in 2025.
With a pipeline of 1,000 sites in various stages of development, Couche-Tard’s construction and M&A teams are going to stay quite busy in the next few years.
6,000
The number of stores globally that feature the Fresh Food, Fast program.
Executives also highlighted the importance of foodservice to Couche-Tard’s bottom line, sharing that the company’s Fresh Food, Fast program is now in more than 6,000 locations worldwide. Furthermore, its contribution to the company’s top line has risen by 72 basis points year over year while the retailer cut the number of SKUs in half.
While that 6,000 number is big, the program is not growing all that quickly. It was already in almost 5,800 sites globally at the end of 2024. It’s impossible to know for certain why the rollout has slowed, but space constraints likely play a role.
Kitchens take a lot of room and equipment, and depending on the size of the store and plot of land, some existing sites may just not be able to take advantage of Couche-Tard’s changing food fortunes. But extra space will likely be a focus as the company expands. Look for the number of Fast Food, Fresh sites to increase alongside Couche-Tard’s small acquisitions and new builds.
74%
The share of Couche-Tard’s revenue that comes from fuel.
While food’s importance to Couche-Tard’s financials is creeping up, there’s no ignoring the elephant in the room when it comes to revenue.
In fiscal 2025, 74% of Couche-Tard’s revenue came from fuel. That dwarfs nicotine, the next largest contributor at 9%. The company also noted that the overall cost to the company has come down by extending its reach further upstream in the energy sector.
“A key enabler for our fuel journey has been our supply chain,” noted Louise Warner, executive vice president of North America operations and global commercial optimization. “The ability to control the products that we source and the cost advantages that come from supply chain control have been critical to underpin the success in fuel.”
It’s a profitable approach, and one the company’s leaders say it wants to look at applying to its food merchandising as well.
Maybe that’s why Couche-Tard is building three new distribution centers?
