Canadian Tire reverses loss, beats sales estimates

Canadian Tire Corp. Ltd. turned a Q1 profit of $151.8 million, or $2.47 per share, after posting a $13.3 million ($0.22) loss a year ago. Revenues rose nearly 10 percent to $3.32 billion, up from $2.85 billion in Q1 2020 and ahead of the $2.92 billion expected by analysts. Sales at the Canadian Tire banner grew by 20.1 percent. Comp sales across the Canadian Tire Retail business rose by 19.2 percent. Online sales ballooned by 257 percent to almost $450 million