Canadian Tire reverses Q3 loss

Canadian Tire Corp. has reported Q3 net income of $200.6 million, or $3.59 per share, reversing a loss of $27.8 million ($1.19) a year earlier. Revenues declined by 1.4 percent to $4.19 billion, beating estimates of $4.16 billion. Comp sales were 1.5 percent below the comparable period of last year but higher than in Q2. Canadian Tire Retail’s comp sales were down 2.2 percent.