Positive sales trend

Canadian Tire Retail has announced figures for the third quarter of 2008. These show that the retail division can point to a sales increase of 4.1 per cent to C $ 1.860 bn (€ 1.216 bn) by comparison with the same period last year. The increase amounts to 2.0 per cent in like-for-like terms. At C $ 1.399 bn (€ 914 mio) the operating profit achieved growth of 7.3 per cent. Pre-tax profit was 1.0 per cent down at C $ 94 mio (€ 61.5 mio). Turnover during the first nine months of the financial year came to a total of C $ 5.254 bn (€ 3.434 bn), which amounts to growth of 1.6 per cent (-0.5 per cent like-for-like) on the preceding year. The company’s operating profit rose by 3.7 per cent to C $ 4.033 bn (€ 2.636 bn), and pre-tax profit by 0.6 per cent to C $ 221.4 mio (€ 144.7 mio).