Canadian Tire reports flat comp sales

Canadian Tire Store SignCanadian Tire Corp. said this week comp sales at the Canadian Tire banner edged down by 0.1 percent, while overall comp sales rose by 0.3 percent.  Net income of $562.6 million ($9.13 per share) was up from $535.7 million ($8.40) a year earlier. Revenue for the period rose by 3.9 percent to $5.3 billion. During the quarter, which includes the holiday shopping rush, consumers continued to limit spending on non-essential items.