Canadian Tire profit rises as retail and online sales grow

Net income was C$4.27 a share, compared with C$191.3 million, or C$3.13 a share, a year earlier. Adjusted earnings were also C$4.27 a share, above the C$3.80 analysts expected, according to FactSet. Revenue rose from C$4.11 billion and topped the C$4.28 billion forecast.

Retail comparable sales increased 3.2%, supported by a strong September and growth across all banners. Canadian Tire Retail’s comparable sales rose 3.2% on higher traffic. Living and Seasonal & Gardening led growth, while Automotive recorded its twenty-fifth consecutive quarter of sales growth, the company said.

SportChek comparable sales advanced 3.2%, and Mark’s rose 3.3%. Ecommerce sales climbed 15.3%, while loyalty sales grew 6.3%.