The rising cost of living may have contributed to a surge in cigarette smuggling in Canada, Alimentation Couche-Tard Inc. said Wednesday.
"This is a sign that the pressure is mounting on consumers. We are lucky to see unemployment at a historic low, which means that the consumer is still in better shape than in 2008-2009 ," he added. Couche-Tard announced after markets closed Tuesday that its net profit decreased 15.3 per cent to US$477.7 million in the fourth quarter after it took a US$56.2-million pre-tax charge for the impairment of its Russian subsidiaries.
The core results were slightly better than expected because higher fuel margins in the U.S. offset increased expected and lower margins in Europe. High fuel prices are expected to continue to put pressure on fuel sales volumes, Stifel GMP analyst Martin Landry wrote in a report.
Source: News Formal (newsformal.com)
Yeah and Trudeau legalized weed and now they are selling more weed at 60$ and 80$ an ounce…more money in weed than cigarettes… meanwhile the legal marijuana companies are struggling with all the red tape that the Trudeau government put as rules to follow.
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