Business
Canadian Tire Corporation Delivers Strong Q1 Results
Canadian Tire Corporation Delivers Strong Q1 Results Canadian Tire Corporation Del...
About this update from Canadian Tire Corporation, Limited
[{"type":"text","content":"\n\n\n\nCanadian Tire Corporation Delivers Strong Q1 Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCanadian Tire Corporation Delivers Strong Q1 Results\nCanada NewsWire\nTORONTO, May 12, 2016\n\n\n\n\nSame store sales up in all core retail banners:\n\n1.0% at Canadian Tire Retail \n12.3% at Sport Chek \n0.8% at Mark's\nRetail EBITDA increased by 8.8% \nFirst quarter diluted earnings per share was $0.90, up 2.6%\n\n\n\nTORONTO, May 12, 2016 /CNW/ - Canadian Tire Corporation, Limited (TSX:CTC, TSX:CTC.A) today released first quarter results for the period ended April 2, 2016.\n\n\"Once again, our results demonstrate continued strong execution by all of our retail businesses with solid same store sales and impressive margin and expense management, even in a quarter with unseasonable weather,\" said Michael Medline, President and CEO, Canadian Tire Corporation. \n\n\"We have also taken a meaningful step in driving our innovation agenda forward with the very successful launch of our new digital catalogue – the Canadian Tire WOW Guide – a great example of how we're bridging the gap between the physical and digital worlds,\" continued Medline.  \n\nCONSOLIDATED OVERVIEW\n\n\nConsolidated retail sales increased $19.5 million or 0.8% in the first quarter including a 9.0% decline in Petroleum retail sales due to lower gas prices and gas volumes.  Excluding Petroleum, consolidated retail sales were up 3.0% over the same period last year. \nExcluding Petroleum, consolidated revenue increased $91.9 million, or 4.3% in the quarter, primarily due to higher shipments at Canadian Tire and increased sales at FGL Sports and Mark's partially offset by decreased revenue at Financial Services. Consolidated revenue increased 1.8% over the same period last year. \nDiluted EPS was $0.90 in the quarter, an increase of $0.02 per share, or 2.6%, over the first quarter of 2015.\n\nRETAIL OVERVIEW\n\n\nRetail segment revenue increased 5.2% excluding Petroleum in the quarter.  Retail segment revenue increased 2.1% in Q1 compared to last year. \nRetail margin...