Canadian Tire profits fall, but revenues grow

TORONTO ― Canadian Tire Corp. said its Q1 profits declined to $69.7 million, or $1.12 per share, compared to $78 million ($1.18) a year ago. Revenues amounted to $2.89 billion, increased from $2.81 billion in Q1 of 2018. Sales at the Canadian Tire banner rose by 7.4%, with comparable sales climbing 7.1%. Sales increased by 2.8% at SportChek (comparable sales 3.4%) and 5.5% (4.9%) at Mark’s.