Holiday shopping boosts Canadian Tire results

TORONTO — Canadian Tire Corp. posted revenues of $4.3 billion in Q4, up from $4.1 billion as holiday season sales rebounded after a weaker showing in 2018. Canadian Tire Retail’s revenues rose $172.3 million or 4.5 percent, while comparable sales excluding petroleum increased by 4.8 percent. Net income for the quarter came to $365.9 million or $5.42 per share, compared with $278.2 million or $4 per share a year prior.

For the full fiscal year, revenues increased by 3.8 percent to $14.5 billion. Comparable sales rose 3.8 percent at the company’s namesake banner and 3.3 percent each at Sport Check and Mark’s. Net income of $894.8 million or $12.60 per share was up from $783-million ($10.67) in fiscal 2018.