Canadian Tire profits rise on lower sales

Canadian Tire Corp. reported Q2 earnings of $198.8 million, or $3.56 per diluted share, up from $99.4 million or ($1.76) a year earlier. Revenues fell to $4.13 billion, from $4.26 billion in the previous Q2. Comp sales declined by 4.6 percent, down 5.6 percent at the Canadian Tire banner and 0.8 percent at SportChek.