Q2 sales rise at Canadian Tire banners

MISSISSAUGA, Ont. — Canadian Tire reported that same-store sales increased for Q2 in all core retail banners. Sales were up 2.9% at Canadian Tire, 7.2% at Sport Chek, and 4.6% at Mark’s. Diluted earnings per share rose 14.5% to $2.46. Consolidated retail sales increased $121.1 million, or 3.1% in the second quarter, including a 5.3% decline in Petroleum retail sales due to lower gas prices. Excluding Petroleum, consolidated retail sales were up 4.5% over the same period last year. Also excluding Petroleum, consolidated revenue increased $126.0 million, or 4.5%, primarily due to higher shipments at Canadian Tire and increased sales at FGL Sports and Mark’s, compared to a 2.9% increase last Q2.