Tech strides save Canadian Tire’s Q2

TORONTO — Canadian Tire beat estimates during a rainy second quarter, thanks in part to its use of data mining for targeted promotions. The retailer has also diversified its product lines, mitigating the effect of the weather on seasonal offerings. Revenues increased by 2% to $3.4 billion, compared to $3.3 billion a year ago. Net income rose to $195.2 million from $179.4 million. At $2.81 per share, the result beat analyst estimates of $2.52 on average. Same-store sales were up 1.8% across the board, including increases of 1.4% at the Canadian Tire banner, 4% at Mark’s, and 2.6% at FGL Sports.