Canadian Tire reports Q4 profit and revenue up from year ago
By The Canadian Press on February 16, 2023.
TORONTO – Canadian Tire Corp. Ltd. reported its fourth-quarter profit and sales were up compared with year ago. The retailer says it earned net income attributable to shareholders of $531.9 million or $9.09 per diluted share for the 13-week period ended Dec. 31, up from $508.5 million or $8.34 per diluted share a year earlier. Revenue totalled $5.34 billion, up from $5.14 billion in the same quarter a year earlier. Comparable sales for the quarter at its namesake Canadian Tire stores were flat compared with a year earlier, while SportChek comparable sales were down 1.7 per cent. Mark’s comparable sales were up 4.3 per cent. Helly Hansen revenue gained 20.6 per cent compared with a year earlier. Canadian Tire says its normalized profit for the quarter amounted to $9.34 per diluted share, up from a normalized profit of $8.42 per diluted share a year earlier. Analysts on average had expected a profit of $7.44 per share and $5.18 billion in revenue, according to financial markets data firm Refinitiv. This report by The Canadian Press was first published Feb. 16, 2023. Companies in this story: (TSX:CTC.A, TSX:CTC) 9-8
