Poor quarter

In the fourth quarter of 2007 Canadian Tire Retail recorded sales of C $ 2.17 bn (€ 1.49 bn), amounting to 0.4 per cent more than the same period in the previous year. Like-for-like sales were 1.8 per cent down. Canadian Tire reports retail sales of C $ 7.227 bn (€ 4.968 bn) for the full business year, which amounts to growth of 1.5 per cent. However, sales were 0.5 per cent down in like-for-like terms. Pre-tax profit rose 14.2 per cent to C $ 81.7 mio (€ 56.16 mio) in the first quarter, while a drop of 0.4 per cent to C $ 304.7 mio (€ 209.45 mio) was recorded for the full business year.