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    « Canadian Tires Quarterly Results | Main | Canadian Tire Launches First Small Urban Store in Toronto »

    Canadian Tire Releases Q3 Earnings Report

    "Retail sales increased 3.1 per cent in the quarter reflecting strong sales results across 
    all retail banners reflecting in part, a positive customer response to new assortments at 
    CTR, Mark’s and FGL Sports banners and higher gas prices at Petroleum. 
    CTR retail sales increased 2.8 per cent in the quarter (2.0 per cent same store sales 
    increase) led by strong sales performances in automotive, seasonal and kitchen 
    products. In Automotive, service centre sales were strong with increases in labour 
    related to hard parts installations, maintenance work, diagnostics and other inspections. 
    Sales in the light auto parts and auto maintenance categories also increased during the 
    quarter. Sales in key seasonal categories largely increased due to demand for power 
    generation products in Calgary and Ontario, outdoor tools products and the new 
    assortment related to the continued rollout of Hunting and Fishing Pro Shops. 
    FGL Sports’ retail sales reflect strong sales performances across all the retail banners, 
    particularly under the Sport Chek banner where same store sales increased 9.1 per 
    cent reflecting strong sales in equipment, apparel and footwear, particularly in casual 
    clothing due to the inclusion of new national brands and a positive customer response 
    to running and training footwear assortments. Retail sales also included seven weeks 
    of PHL results from the date of acquisition to the end of the quarter. Offsetting the 
    positive sales performance was the net impact of over 50 fewer stores as a result of the 
    banner rationalization initiative which was completed at the end of Q1 2013. 
    At Mark’s, retail sales growth of 4.7 per cent (4.3 per cent same store sales) was driven 
    by increased men’s industrial apparel and accessories sales as well as strong industrial 
    footwear sales."


    The report can be viewed in its entirety here.

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