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WatchCanadian Tire profit falls but revenue and sales gain ground

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first_img May 9, 20198:36 AM EDT Filed under News Retail & Marketing TORONTO — Canadian Tire Corp. reported its first-quarter profit fell compared with a year ago as revenue moved higher.The retailer says it earned a profit attributable to shareholders of $69.7 million or $1.12 per share for the quarter ended March 30.That compared with a profit of $78 million or $1.18 per share a year earlier.Revenue totalled $2.89 billion, up from $2.81 billion in the first quarter of 2018.The increase in revenue came as retail sales at its Canadian Tire stores increased 7.4 per cent and comparable sales gained 7.1 per cent.Meanwhile, sales at its SportChek stores gained 2.8 per cent, while comparable sales rose 3.4 per cent. Mark’s sales grew 5.5 per cent, while comparable sales at the clothing chain increased 4.9 per cent.Related Stories:Walgreens third-quarter profit falls 23.6%Corona maker Constellation Brands beats quarterly sales estimatesAccenture quarterly profit jumps as digital investments pay off  Twitter Comment Recommended For YouThree reasons Canada outpaces U.S. in office construction boomUPDATE 3-Bayer lifted by new plan to tackle glyphosate lawsuits, Elliott approval’Not a brand change’: New name, same pipeline challenges for TC EnergyUPDATE 2-Canadian firms expect increase in sales growth -Bank of Canada surveyUPDATE 3-Pence puts off China speech sequel ahead of Trump-Xi talks Share this storyCanadian Tire profit falls, but revenue and sales gain ground Tumblr Pinterest Google+ LinkedIn Reddit 0 Commentscenter_img More Email Canadian Tire profit falls, but revenue and sales gain ground Sales at Canadian Tire stores increased 7.4% Facebook The Canadian Press Join the conversation →last_img

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