TORONTO — Canadian Tire Corp. posted a net Q2 loss of $20 million, or $0.33 per share, compared to earnings of $177.4 million ($2.87) reported a year ago. Strong sales online and under the Canadian Tire banner made for an overall retail sales gain of 1.7 percent to nearly $4.4 billion. Public health measures obliged the company to shutter its Mark’s, Helly Hansen and SportChek stores, while Canadian Tire stores in Ontario, making up 40 percent of CTC’s store network, were closed for most of April. Revenues fell by 14.2 percent to some $3.2 billion as franchisees cut orders amid the uncertainty of the pandemic. Yet the company underscored that revenues have been on the rise since stores reopened, climbing by 24 percent in June.
Canadian Tire posts Q2 loss
Most Recent
Most Read
Canfor announces earnings, acquisition
Thu, May 02nd, 2024
Two more retailers to showcase Quebec-made products
Thu, May 02nd, 2024
Throwback Thursday: “Canadians are ready to start spending again,” we reported ten years ago
Thu, May 02nd, 2024
RONA stores raise money in May to support communities
Thu, May 02nd, 2024
AD Canada garners recognition as great place to work
Thu, May 02nd, 2024
AQMAT unveils its “Family Portrait” of the industry in Quebec
Wed, May 01st, 2024
Is the honeymoon ending for self-checkout?
Wed, May 01st, 2024
Amazon announces first quarter results, triples profits
Wed, May 01st, 2024
Peavey marks grand opening in Manitoba
Tue, April 30th, 2024
Hiring in Ontario? Legislation around job postings has changed
Tue, April 30th, 2024