Retailing in deficit

Canadian Tire Retail announces a decrease in sales for the third quarter. Revenue was down by 0.7 per cent on the previous year’s result to C $ 1.787 bn (€ 1.309 bn), or -2.7 per cent adjusted. Pre-tax profit experienced a negative trend, declining by 4 per cent to C $ 87.6 mio (€ 64.2 mio). For the first three quarters the retail division of Canadian Tire reports a sales increase of 2.0 per cent to C $ 5.172 bn (€ 3.79 bn). Sales remained on the previous year’s level in like-for-like terms. However, profit was 1.6 per cent down to C $ 219.2 mio (€ 160.6 mio).