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☆ Portfolio manager discusses Couche-Tard's bid for Seven & i
▼ + stars: | 2024-10-18 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCouche-Tard is 'extraordinarily disciplined' on the capital allocation front: Portfolio managerBen Herrick, associate portfolio manager at Artisan Partners, discusses Alimentation Couche-Tard's bid for Seven & i and regulatory concerns.

Persons: Ben Herrick, Alimentation Organizations: Artisan Partners, Seven

☆ 7-Eleven is closing more than 400 locations
▼ + stars: | 2024-10-11 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Several hundred “underperforming” 7-Eleven locations across North America are closing, the convenience store announced. Seven & I Holdings, the chain’s Japan-based parent company, revealed in an earnings report Thursday that 444 locations of 7-Eleven are shutting down because of a variety of issues, including slowing sales, declining traffic, inflationary pressures and a decrease in cigarette purchases. A specific list of closing locations wasn’t immediately released. The chain has more than 13,000 stores across the United States, Canada and Mexico, so the number of closures amounts to 3% of its portfolio. Competitors like Wawa and Sheetz are earning higher customer satisfaction scores for their overall offerings, while 7-Eleven ranked way lower, according to a recent survey.

Persons: hasn’t, Neil Saunders, ” Saunders, it’s, Couche Organizations: New, New York CNN, Holdings, GlobalData, CNN, “ Locations: New York, North America, Japan, United States, Canada, Mexico, Wawa

☆ 7-Eleven is at the heart of the Japanese 'konbini' culture
▼ + stars: | 2024-10-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email7-Eleven is at the heart of the Japanese 'konbini' cultureCNBC's Lin Lin looks at the popularity of 7-Eleven in Japan, and why its parent company Seven & i is being targeted for a takeover by Canada's Alimentation Couche-Tard.

Persons: CNBC's Lin Lin, Canada's Alimentation Locations: Japan

☆ 7-Eleven's parent company cuts full-year earnings forecast, presses ahead with restructuring
▼ + stars: | 2024-10-10 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

A customer is seen inside a 7-Eleven convenience store along a street in central Tokyo on September 9, 2024. The company slashed its profit forecast for the fiscal year ending February 2025 and now expects net income of 163 billion yen ($1.09 billion), a 44.4% reduction from its prior forecast of 293 billion yen. The reduction comes as it reported first-half net profit of 52.24 billion yen on 6.04 trillion yen in revenue. While sales came in higher than forecast, profits significantly below its own guidance for 111 billion yen. The company noted it recorded a charge of 45.88 billion yen related to its spin-off of Ito-Yokado Online Supermarket.

Persons: Ito, Canada's Alimentation Organizations: Holdings, Japan's Foreign Exchange, Foreign Trade Act, & $ Locations: Tokyo, Japan

☆ Asia-Pacific markets gain ahead of U.S. inflation data; China stocks resume rally
▼ + stars: | 2024-10-10 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

A general view of the Shanghai Securities Exchange building is being shown in Shanghai, China, on July 16, 2024. Japan's Nikkei 225 gained 0.26% to end at 39,380.89, while the broad-based Topix rose 0.2% to close at 2,71267. Traders in Asia were assessing September data on producer prices in Japan which rose 2.8% from a year ago. Economists polled by Reuters had predicted the inflation rate would come in at 2.3%, down from 2.5% in August. The rally had been triggered by a blitz of government stimulus measures at the end of September.

Persons: Australia's, Korea's Kospi, Hong, Chetan Ahya, Morgan Stanley, Ahya Organizations: Shanghai Securities Exchange, Dow Jones, Nikkei, Traders, Reuters, Investors, Holdings, Alimentation, CSI, China's Finance, Asia Locations: Shanghai, China, SINGAPORE — Asia, Pacific, 2,71267, Asia, Japan, Beijing

☆ Seven & i Holdings' shares slide 3% on likely U.S. probe into a potential M&A deal with Couche-Tard
▼ + stars: | 2024-09-11 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

A 7-Eleven convenience store, operated by Seven & i Holdings Co., in Kawasaki, Japan, on Monday, Aug. 19, 2024. The FTC was concerned that the companies' defense attorneys were advising them to get rid of documents linked to the potential merger ahead of antitrust investigations, Reuters reported. In June, the FTC and the Justice Department launched antitrust investigations into Microsoft, OpenAI and Nvidia. Other recent antitrust investigations include cases against Amazon and Google. Seven & i revealed that Couche-Tard had offered to acquire all outstanding shares of Seven & i for $14.86 per share.

Persons: Canada's Alimentation, Tard, Tokutaka Ito, O Shearman, Ito, — CNBC's Lim Hui Jie Organizations: Seven, Holdings Co, Holdings, U.S . Federal Trade Commission, Reuters, FTC, Justice Department, Microsoft, Nvidia, Amazon, Google, CNBC Locations: Kawasaki, Japan, Asia, .

☆ Asia-Pacific markets open lower after gains on Wall Street; Japan and South Korea data in focus
▼ + stars: | 2024-09-11 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

The upscale shopping district of Ginza in Tokyo, Japan, on Saturday, May 4, 2024. Asia-Pacific markets opened lower on Wednesday, despite gains on Wall Street ahead of the U.S. August consumer inflation report due Wednesday. Traders in Asia parsed key economic data from Japan and South Korea. South Korea reported that unemployment fell to 2.4% in August, the lowest level since 1999, when the data series commenced, according to Statistics Korea. The sentiment for non-manufacturers declined for a third consecutive month to plus 23, from plus 24.

Persons: Donald Trump, Kamala Harris, Canada's Alimentation Organizations: Traders, Statistics Korea, Reuters, Republican, Democratic, Federal Trade Commission, Taiwan Semiconductor Manufacturing Corp, Taiwan Locations: Ginza, Tokyo, Japan, Asia, Pacific, South Korea

☆ 7-Eleven's parent company rejects $38.6 billion takeover bid, says offer 'grossly undervalues' company
▼ + stars: | 2024-09-06 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +4 min

Photographer: Soichiro Koriyama/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty ImagesSeven & i Holdings has rejected the takeover offer from Canadian convenience store operator Alimentation Couche-Tard , saying the offer "is not in the best interest" of its shareholders and stakeholders. According to LSEG data, the offer price will value Seven & i at $38.55 billion. In April, Seven & i announced a restructuring plan for the company, aimed at growing 7-Eleven's presence globally as well as divesting its underperforming supermarket business. Herrick explained Artisan asked Seven & i to consider the offer because the fund feels that capital allocation overseas has been overlooked. "You have more than 50,000 stores, or about 50,000 stores that are generating about $100 million or just over $100 million of operating profit for for the company.

Persons: Alimentation, Soichiro Koriyama, Tard, Stephen Dacus, Dacus, Alain Bouchard, Ben Herrick, Herrick Organizations: Seven, Holdings Co, Tard Inc, Bloomberg, Getty Images Bloomberg, Getty, Holdings, Tokyo Stock Exchange, litigating, Artisan Partners, Partners, & $ Locations: Kobe, Japan, U.S, Tokyo, United States

☆ Japanese operator of 7-Eleven rejects merger offer worth billions from Circle K owner
▼ + stars: | 2024-09-06 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —The operator of 7-Eleven has rejected an opening offer from the owner of convenience store rival Circle K, indicating the bid was too low and that its global business was worth more. In a statement Friday, Tokyo-based Seven & I Holdings, which owns 7-Eleven, said it was “open” to “sincerely consider” any proposal that is in the best interests of its shareholders. The Financial Times reported on Thursday that Seven & I was open to the possibility of a higher offer from its suitor. Shares in Seven & I have rallied since the news of the offer broke last month, pushing its market value above $38 billion. Although 7-Eleven traces its origins to Dallas, Texas, it was the late Japanese entrepreneur Masatoshi Ito who is credited with turning it into a ubiquitous global brand.

Persons: “, Alimentation, Masatoshi Ito, Ito Organizations: Hong Kong CNN, Holdings, Reuters, The Financial Times, Analysts, Speedway, Marathon Petroleum Locations: Hong Kong, Tokyo, Japan, North America, Europe, United States, Dallas , Texas

☆ Why 7-Eleven Is a National Treasure in Japan
▼ + stars: | 2024-08-24 | by ( Kiuko Notoya | River Akira Davis | ) www.nytimes.com time to read: 1 min

In Japan, convenience stores are celebrated. Millions flock to the stores daily to pick up food, send packages and pay bills. Japan’s largest konbini chain, 7-Eleven, is also its most famous. It is understandable that a rival company wants in on the action. This week, Seven & i Holdings, the Japanese company that operates 7-Eleven, said it had received an unsolicited takeover proposal from Alimentation Couche-Tard, a convenience store giant in Canada.

Persons: Anthony Bourdain, ”, Alimentation Organizations: Holdings Locations: Japan, Canada

☆ These stocks have logged second-half gains every year for a decade — including an AI chip firm
▼ + stars: | 2024-07-02 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Investors in 14 global stocks could get lucky over the next six months if history repeats itself. CNBC Pro screened the MSCI World index for stocks that have consistently risen in the second half of each year over the past decade. Broadcom AI chip designer Broadcom had the second biggest upside potential, with Wall Street analysts expecting shares to rise 18% over the next 12 months. Analysts expect shares to rise by 39% over the next 12 months to 300 euros ($322). Since the late 1980s, when markets rose by more than 12% in the first half, they rose every time in the second half of the year.

Persons: Stocks, Booz Allen Hamilton, Berkley, Chubb, Assicurazioni Generali, Sofina, Alimentation, that's Organizations: CNBC Pro, Broadcom, New York Stock, Intercontinental Exchange, CDW Corporation, Swiss, Wall Street, Belgian, TSX, Consumer Staples, RBC Capital Markets, CNBC Locations: Munich, Canada, U.S

Hedge fund managers gathered Wednesday at the 2024 Sohn Investment Conference in New York to share their best investment ideas. It kicked off with "Next Wave Sohn," a session that features ideas from rising stars within the hedge fund industry. Endocrinology is an $8 billion market, but the cumulative market size, including the company's future therapy targets, is upward of $200 billion, which includes estimates for future obesity drugs, the investor said. It has CA$75 billion market cap with an "unbelievable record of success," according to the investor. The short seller noted that the company has a $5 billion market cap with about $4.8 billion of debt.

Persons: Sohn, Eric Wolff, Wolff, Michelle Ross, Cushing, Ross, Eli Lilly, Crinetics, XBI, Nikhil Daftary, Alimentation, Daftary, Chris Drose, Nate Koppikar, Fahmi Quadir Organizations: Investment, Gumshoe Capital Management Investment, Pason Systems Energy, Pason Systems, Gumshoe Capital Management, StemPoint, Pharmaceuticals, Crinetics Pharmaceuticals, StemPoint Capital, Endocrinology, Novo Nordisk, P Biotech, NK Capital Investment, NK Capital, Starbucks, McDonalds, Bleecker Street Capital, Orso Partners, Justice Department, Federal Trade Commission, Safkhet, Global Education Locations: New York, Canada, U.S

☆ RBC just raised its bet on this 'recession resistant' Canadian stock, giving it 20% upside
▼ + stars: | 2023-09-06 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

RBC has raised its bets on convenience store operator Alimentation Couche-Tard , doubling the weighting of the stock in its "Focus List: Fall 2023" bucket to 5%. The company, along with 26 other stocks, were also on RBC's "Summer 2023" list. Although the bank's stock list has underperformed over the past six months, it has historically and consistently beaten its benchmark S & P/TSX Index . The RBC Strategy Canadian Focus List returned 11.3% in compounded annual growth over the past five years. ATD-CA 5Y mountain Waste Connections RBC also doubled its weighting of U.S.-firm Waste Connections to 5% in its "Focus List: Fall 2023" bucket.

Persons: Irene Nattel, that's Organizations: RBC, RBC Strategy, Canadian, Capital Markets, TSX, Consumer Staples Locations: ATD

☆ ValueAct loses its temper in 7-Eleven
▼ + stars: | 2023-05-10 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +4 min

HONG KONG, May 10 (Reuters Breakingviews) - ValueAct Capital’s chief Mason Morfit prefers to chide undervalued conglomerates behind closed doors. In its latest 151-page presentation, ValueAct took its case directly to shareholders, the second time it has seen fit to do so in its history. That highlights the U.S. fund’s frustration from its two-year long campaign calling for Seven & i to spin off its 7-Eleven convenience stores, among other things. That implies a standalone 7-Eleven could be worth 10 trillion yen, roughly a quarter more than its parent today. He may have a point, and in truth ValueAct has far more experience turning around technology companies than food retailers.

☆ Engine Capital urges Parkland to consider sale, spinoff of non-core assets
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

March 22 (Reuters) - Activist investor Engine Capital on Wednesday urged fuel marketer Parkland Corp (PKI.TO) to look at strategic alternatives including the sale or spinoff of non-core assets to become a more focused fuel and convenience retailer. Parkland has accumulated a range of assets that are not typically owned by pure-play fuel and convenience operators, said Engine Capital. Engine added it was "particularly troubled by Parkland's staggering underperformance" compared with Canadian convenience retailer Alimentation Couche-Tard (ATD.TO). "The letter has been circulated by management to the board of the company for its review and consideration," Parkland said in an e-mailed statement. Engine also urged the company to improve its compensation framework to better align management's incentives with shareholder interests.

☆ Big Oil Prepares for Upheaval at the Gas Station
▼ + stars: | 2023-03-17 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Electric vehicles are a small but growing share of cars on the road. Energy companies already need to prepare for how they will change the gas station. On Thursday, Paris-listed TotalEnergies agreed to sell around 2,200 gas stations in Europe to Canadian convenience-store company Alimentation Couche-Tard for €3.1 billion, worth $3.3 billion at current exchange rates. It is the second big deal in this space this year. BP paid $1.3 billion for TravelCenters of America in February, which has 280 locations on U.S. highways.

☆ Canada's Couche-Tard to buy some TotalEnergies stations in $3.3 bln deal
▼ + stars: | 2023-03-16 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

The companies said that under the deal the Canadian firm would buy all of TotalEnergies' service stations in Germany and the Netherlands, as well as purchasing a 60% stake in the French company's stations in Belgium and Luxembourg. "Service stations must expand from just selling fuel to become fully-fledged service hubs," TotalEnergies CEO Patrick Pouyanne said in a joint statement. Since 2015, TotalEnergies has divested its service station networks in Italy, Switzerland and the United Kingdom. Couche-Tard said it plans to fund the deal with available cash along with existing credit facilities and new debt. In January 2021, Couche-Tard's $20 billion approach for Carrefour, Europe's largest food retailer, was rejected by the French government on food security concerns.

☆ Canada petrol king shows belated faith in own plan
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 16 (Reuters Breakingviews) - Alimentation Couche-Tard (ATD.TO) is expanding its empire of petrol station rest stops. On Thursday, the $44 billion Canadian gas station giant said it would buy some of TotalEnergies’ (TTEF.PA) European assets for 3.1 billion euros. The swoop is also a sign that Couche-Tard is more confident in its own business model than in the recent past. Back then, it seemed Couche-Tard was looking to diversify its empire of highway rest stops. But if EV battery power or home-charging facilities improve, Couche-Tard’s business model may not stack up.

☆ These 3 stocks have gained every year for a decade — and are expected to keep rising
▼ + stars: | 2023-03-06 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Only three stocks are in the green this year and have had positive returns every year for the past decade, data shows. Insurance company Progressive Corp and aerospace manufacturing company TransDigm Group — both U.S. listed — along with Canadian convenience store operator Alimentation Couche-Tard are the only three stocks in the MSCI World Index to achieve this feat. The Canadian stock is also the largest holding in the only ETF that's posted gains yearly for the past decade . ATD has posted 725% in total returns and 23% CAGR over the past decade. TDG shares have risen by nearly 900% over the past decade in addition to this year, representing 25.4% in total CAGR.

☆ This global ETF is the only fund that's posted gains every year for the past decade
▼ + stars: | 2023-01-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

An ETF tracking Canadian consumer stocks is the only major fund to have had a positive return every year over the past decade, data shows. The Canadian-dollar-based fund beat the SPDR S & P 500 ETF (SPY) by 59 percentage points in total returns over the past decade. It also outperformed the Canada-focussed iShares Core S & P/TSX Capped Composite Index ETF (XIC) by about 125 percentage points over the same period. The Canadian consumer staples ETF has risen by 2% this year to 85.9 Canadian dollars ($64.15) a share. Unlike the larger index funds, the iShares S & P/TSX Capped Consumer Staples Index ETF includes just 11 stocks, with a significant weighting toward the food retail and packaged foods sectors.

☆ Retailer Carrefour plans more investment and savings
▼ + stars: | 2022-11-08 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

PARIS, Nov 8 (Reuters) - Carrefour (CARR.PA) will step up its expansion into e-commerce, slash costs and focus on cash generation as part of boss Alexandre Bompard's new strategy to accelerate the turnaround at Europe's largest food retailer amid soaring inflation. The French group, ahead of an investor presentation later on Tuesday, said it was aiming for a net free cash flow of over 1.7 billion euros ($1.7 billion) and 4 billion euros in cost savings in 2026. As a result, Carrefour said it was raising its annual investment target to 2.0 billion euros from 1.7 billion euros previously. Chairman and CEO Alexandre Bompard, who took the helm in July 2017, was reappointed in May 2021 for another three years. ($1 = 0.9996 euros)Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Carrefour plans investments and savings to tackle inflation
▼ + stars: | 2022-11-08 | by ( Dominique Vidalon | ) www.reuters.com time to read: +3 min

The French group, which also announced a media joint venture with ad giant Publicis , said on Tuesday it was aiming for 4 billion euros ($4 billion) in cost savings and for net free cash flow of over 1.7 billion euros ($1.7 billion) in 2026. As a result, Carrefour said it was raising its annual investment target to 2.0 billion euros from 1.7 billion euros previously. "Carrefour 2026 is a plan to be on the offensive in markets marked by inflation and climate change ... The partnership with Publicis in retail media will take the form of a joint venture in which Carrefour will hold a 51% stake, the group said. ($1 = 0.9996 euros)Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Canopy Growth to divest Canadian retail operations
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: 1 min

Sept 27 (Reuters) - Canopy Growth Corp (WEED.TO) said on Tuesday it will divest its retail business across Canada, as the pot producer steps up efforts to turn profitable. The business includes stores operating under the Tweed and Tokyo Smoke retail banners. Canopy has been focusing on premium high-potency offerings and has undertaken cost cuts through layoffs, exits from some international markets and store closures in its bid to turn profitable. The master license deal between Canopy and Alimentation Couche-Tard Inc (ATD.TO) related to the use of the Tweed brand for brick-and-mortar retail stores operating in Ontario has also been terminated, it added. Register now for FREE unlimited access to Reuters.com RegisterReporting by Arunima Kumar in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

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