Sales growth

In 2008 Canadian Tire Retail generated sales of C $ 7.618 bn. This amounts to growth of 3.8 per cent compared with the previous year, or 1.8 per cent like-for-like. The company was able to increase its operating profit by 3.6 per cent to C $ 5.569 bn. Earnings before tax, on the other hand, were 17.6 per cent down on the previous year to C $ 249 mio. For the fourth quarter Canadian Tire’s retail division shows a 9.1 per cent rise in sales to C $ 2.364 bn (+7.3 per cent like-for-like). In terms of operating income an increase of 3.3 per cent to C $ 1.636 bn is reported . However, earnings before tax experienced a fall of 67.1 per cent to C $ 26.6 mio in the fourth quarter.