Canadian Tire Corp.’s latest results revealed a strong fourth quarter and record sales increases for the year, especially within its Canadian Tire Retail division (CTR).
Reflecting performance across the company’s business units, consolidated retail sales increased $479 million in the fourth quarter, up 9.9 percent over the same period in 2019. Excluding Canadian Tire’s Petroleum business, consolidated retail sales were up 13.6 percent. Consolidated revenue increased by 12.9 percent in the fourth quarter; excluding Petroleum, it was up 17.4 percent.
For the full year, Canadian Tire’s retail sales grew 11 percent, excluding Petroleum, primarily driven by 17.6 percent growth at CTR. The company’s e-commerce sales reached $1.6 billion, up $1 billion or 183 percent, with CTR delivering over 250 percent growth.
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