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Cost of Russia exit weighs on Canadian Tire earnings, despite rising sales

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Canadian Tire sees sales rise, but profit drop in second quarter — via financialpost

The company on Thursday reported net income attributable to shareholders of $145.2 million or $2.43 per diluted share, down from $223.6 million or $3.64 per diluted share in the same period in 2021.

Canadian Tire said their retail inventory and margin management helped them achieve five per cent growth in comparable sales “despite some unseasonable weather.”Article content Automotive was the strongest division of Canadian Tire Retail in the quarter, with revenue up 15 per cent or $90 million against last year, Craig said.

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Cost of Russia exit weighs on Canadian Tire earnings, despite rising salesThe retailer said higher expenses including foreign exchange resulted in lower earnings. Find out more.
Source: financialpost - 🏆 7. / 85 Read more »