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
RONA completes sale of DC near Montreal
Fri, April 19th, 2024
Home Hardware marks 60 years
Fri, April 19th, 2024
Retail Council event will tackle HR questions
Fri, April 19th, 2024
Construction spending slips in February
Fri, April 19th, 2024
Wolseley adds a store in British Columbia
Thu, April 18th, 2024
Canadian Tire voted one of Canada's most trusted brands
Thu, April 18th, 2024
Amazon's European shipments will ride the rails
Thu, April 18th, 2024
Throwback Thursday: Ten years ago we reported on the giant salaries that CEOs were paid
Thu, April 18th, 2024
Federal budget: Capital gains tax hike will hit business owners
Wed, April 17th, 2024
Retailers among Canada’s Greenest Employers
Wed, April 17th, 2024