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Canadian Tire Corporation Delivers Strong Third Quarter Comparable Sales, Announces 12th Consecutive Annual Dividend Increase and Reinstatement of Share Repurchase Program
Canadian Tire Corporation Delivers Strong Third Quarter Comparable Sales, Announces 12th ...
About this update from Canadian Tire Corporation, Limited
[{"type":"text","content":"\n \n \n \n Canadian Tire Corporation Delivers Strong Third Quarter Comparable Sales, Announces 12th Consecutive Annual Dividend Increase and Reinstatement of Share Repurchase Program\n \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 \n Canada NewsWire\n \n \n \n \n \n Diluted Earnings Per Share (EPS) was\n \n $3.97\n \n ; normalized diluted EPS was\n \n $4.20\n \n per share\n \n \n Consolidated comparable sales were up 3.3% vs 2020 and up 21% vs 2019\n \n \n Annual dividend to be increased 10.6% to\n \n $5.20\n \n per share, reflecting 12 years of consecutive increases, and share buybacks resumed with intention to repurchase up to\n \n $400 million\n \n Class A Shares\n \n \n \n \n TORONTO\n \n ,\n \n Nov. 11, 2021\n \n /CNW/ - Canadian Tire Corporation, Limited (TSX: CTC) (TSX: CTC.A) today released its third quarter results for the period ended\n \n October 2, 2021\n \n .\n \n \n \"I am pleased with our results this quarter as we delivered exceptional sales growth against 2019 and strong growth against 2020. Our customers continue to connect with us in-store and online and our eCommerce sales remain at twice pre-pandemic levels, demonstrating the success of our strengthened omni-channel capabilities across our banners,\" said\n \n Greg Hicks\n \n , President and CEO, Canadian Tire Corporation. \"Our strong supply chain capabilities have put us in an excellent inventory position as we head into the important fourth quarter. We are well-positioned through our unique multi-category assortments to deliver the products our customers need as they prepare to celebrate the holiday season.\"\n \n \n \"I am proud of the work the team has delivered to achieve our previously committed operating efficiency target of $200+ million in annualized savings ahead of schedule, as we continue to prove our ability to transform our Company and invest to modernize our business. We see the path to an additional\n \n $100 million\n \n in savings through 2022. Our confidence in the Company's future is evidenced by the significant increase in our dividend and the reinstatement of our shar...