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Canadian Tire Corporation Delivers Strong Third Quarter Results
Canadian Tire Corporation Delivers Strong Third Quarter Results Canadian Tire Corp...
About this update from Canadian Tire Corporation, Limited
[{"type":"text","content":"\n\n\n\nCanadian Tire Corporation Delivers Strong Third Quarter 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 Third Quarter Results\nCanada NewsWire\nTORONTO, Nov. 12, 2015\n\n\n\n\nSame store sales:\n\nCanadian Tire up 3.4% \nFGL Sports up 7% (8.5% at Sport Chek) \nMark's down 0.2%\nGAAR growth for Financial Services up 1.7% \nDiluted EPS was $2.62, up 20.5% \n9.5% increase in the annual dividend to $2.30 per share on each Common and Class A Non-Voting share \nIntent to repurchase $550 million of Class A Non-Voting shares by the end of 2016\n\n\n\nTORONTO, Nov. 12, 2015 /CNW/ - Canadian Tire Corporation, Limited (TSX:CTC, TSX:CTC.a) today released third quarter results for the period ended October 3, 2015. \n\n\"Our first priority is to put the numbers on the board and we certainly achieved that this quarter. Our solid top and bottom line performance demonstrates the strength of the Company's operations and retail fundamentals, especially at our core Canadian Tire stores,\" said Michael Medline, President and CEO, Canadian Tire Corporation. \n\nCONSOLIDATED OVERVIEW\n\n\nConsolidated revenue increased $133.2 million, or 5.3%, excluding Petroleum. Consolidated revenue increased 1.9% or $56.9 million versus the prior year, and reflects the impact of lower year-over-year gas prices at Petroleum. \nGross average credit card receivables grew 1.7% over the same period last year. \nDiluted EPS was $2.62, up 20.5%, buoyed by a real estate gain that contributed $0.33 per share and despite an $0.18 reduction due to the Financial Services transaction in 2014. \n\nRETAIL OVERVIEW\n\n\nRetail segment revenue increased 5.9% over the same period last year, excluding Petroleum, primarily due to higher shipments to Dealers at Canadian Tire and retail sales at Canadian Tire, FGL Sports and Mark's. Retail segment revenue, including Petroleum, was up 2% in the quarter, reflecting lower year-over-year gas prices. \nIncome before income taxes in the Retail segment was $182.2 million, up 39.3% over the third quarter last year. Excl...