For Canadian Tire, it was the company's lower-profile financial service division that weighed down the bottom line.Net income in the retailer's fiscal second quarter, which ended July 30, sank 31.5 per cent year-over-year to $177.6 million, the company said Thursday. That was attributed in part a $36.5-million charge tied to halting Helly Hansen's business operations in Russia during the period.Excluding that charge and other one-time costs, Canadian Tire said it earned $3.
However, in its management discussion and analysis, the company said its credit card portfolio"continues to perform well despite ongoing economic uncertainty."It was a mixed picture across Canadian Tire's portfolio of retail brands. The Mark's business stood out as same-store sales surged 20.9 per cent in the quarter. SportChek's sales at stores that were open for at least a year rose 4.1 per cent, while the namesake Canadian Tire banner saw its comparable sales rise 3.
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