Alimentation Couche-Tard (TSX:ATD.B) has a strong business model. The company has been growing fast by acquiring peers operating in the gas station business. Couche-Tard has significant growth opportunities as the world shifts to an electric future. The company’s retail stores and gas stations provide a valuable service and are well-equipped to handle customer needs. Couche-Tard is also very disciplined in capital allocation and has demonstrated to the markets time and again that it will not overpay while acquiring other companies.
Intensifying the focus on hiring right
This year, Couche-Tard has intensified the company’s focus on hiring right and training to win. Couche-Tard’s employee branding, which can be seen on the company’s new career site and outreach material, has progressed with a more dynamic and friendlier approach promoting the company’s growing together promise.
Focused on retention by establishing training programs
In addition, Couche-Tard is also focused on retention by establishing training programs for future leaders at all levels of the company from market managers to aspiring vice presidents. Couche-Tard’s new gamification training tools for store team members are showing impressive results, and the company reached a milestone in unifying the company’s digital human resources platform across the network to make it easier to for all team members to develop through hiring, development, and benefits.
Rolling out the new Project Horizon stores
Additionally, Couche-Tard appears focused on continuing to roll out the company’s new Project Horizon stores. With an enhanced layout, Project Horizon’s larger sites permit Couche-Tard to display the full array of the company’s commercial programs and brand. These include Couche-Tard’s new Fresh Food Fast initiative, combining commercial brands with wider aisles, more space for refrigerated cases, and a greater variety of center aisle products.
Journey into the dynamic Asian market
For Couche-Tard, one of the highlights of fiscal 2020 was welcoming new team members from Circle K Hong Kong and together beginning a journey into the dynamic Asian market. Couche-Tard also made strategic investments into growing the network organically as it upgraded the capabilities and operations at the company’s locations. As a company, Couche-Tard appears to be committing substantial resources in the future to building and opening a record number of new locations.
Becoming a more diverse and inclusive company
Throughout fiscal 2020, following the outpouring of passion over racial tension in the United States, Couche-Tard took determined steps to become a more diverse and inclusive company. Couche-Tard committed to listening, learning, and engaging in meaningful action across the network, including establishing several business resource groups for underrepresented minorities, conducting surveys and focus groups to better understand roadblocks to career growth, and setting firm leadership expectations for creating roadmaps to more diverse teams.
Constantly innovating the customer experience
Additionally, Couche-Tard believes in constantly innovating the customer experience. Couche-Tard’s excellent employee retention numbers reflect the enormous commitment by leaders across the company to communicate, train and motivate several teams, within the organization, while establishing accountability.
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The Motley Fool owns shares of and recommends ALIMENTATION COUCHE-TARD INC. Fool contributor Nikhil Kumar has no position in any of the stocks mentioned.