TORONTO ― Canadian Tire Corp’s Q2 profits tumbled 20% as the company increased spending to compete with Amazon and Walmart. Revenue rose to $3.48 billion from $3.37 billion, but expenses also increased to the tune of about 5% for a total of $831.2 million. Net income therefore fell to $156 million, or $2.38 per share, from $195.2 million ($2.81) a year earlier. Comparable same-store sales increased by 1.6%, discounting petroleum products.
Revenues, expenses rise at Canadian Tire
Most Recent
Most Read
RONA adds six new affiliate dealers
Fri, April 26th, 2024
King Marketing gathers national team, celebrates achievements of its reps
Fri, April 26th, 2024
Aaron Jarosz promoted to lead Home Depot Canada's pro services
Thu, April 25th, 2024
New owners for Canadian Tire store in Innisfil, Ont.
Thu, April 25th, 2024
United Hardware merges with Do it Best
Thu, April 25th, 2024
Throwback Thursday: Ten years ago, Home Depot Canada started using stores as online showrooms
Thu, April 25th, 2024
CEO shares plans for Home Hardware’s 60th anniversary
Wed, April 24th, 2024
West Fraser posts Q1 financials
Wed, April 24th, 2024
IKEA introduces online financial options
Wed, April 24th, 2024
Retail sales stable in February
Wed, April 24th, 2024