Poor performance

In the second quarter of 2008 Canadian Tire’s retail division achieved sales growth of 1.5 per cent to C$ 2.174 bn (€ 1.363 bn). Same-store sales declined by 0.5 per cent. Pre-tax profit was 4.1 per cent down on the same period last year to C$ 85 mio (€ 53 mio). Canadian Tire discloses that its retail division achieved a sales increase of 0.3 per cent to C$ 3.393 bn (€ 2.127 bn) for the first six months. However, adjusted sales were down by 1.8 per cent.