Canadian Tire sales up, Medline takes CEO role

TORONTO — Canadian Tire Corp. reported consolidated revenue for the second quarter of $3.2 billion, up 4.8% from the same time last year. Retail sales for the quarter were also up 4.8%, to $3.7 billion. Retail sales at Canadian Tire-bannered stores were up 3.4% and same store sales increased 2.8%. The company reported “solid sales across key seasonal and non-seasonal categories.”

At the same time, the company has announced that Michael Medline has been named president and CEO, effective December 1. He replaces Stephen Wetmore, who is stepping aside, but will remain on the board in a newly created position as deputy chairman.