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Canadian Tire Corporation Q2 Results Reflect Planned Investments in Future Growth
Canadian Tire Corporation Q2 Results Reflect Planned Investments in Future Growth ...
About this update from Canadian Tire Corporation, Limited
[{"type":"text","content":"\n\n\n\nCanadian Tire Corporation Q2 Results Reflect Planned Investments in Future Growth\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.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Aug. 9, 2018\n\n\n\n\nConsolidated comparable sales up 1.6% in the second quarter:\n\nCanadian Tire up 2.0%; Mark's up 1.3%; FGL down 0.3% \nFinancial Services drove industry leading receivable growth of 10.4%, reaching a significant milestone of 2 million active credit card accounts\nRetail gross margin rate (excluding Petroleum) maintained at Q2 2017 level\nSecond quarter diluted earnings per share (EPS) was $2.38\nSecond quarter normalized diluted EPS was $2.61, down 7.2%, after adjusting for costs associated with the launch of Triangle Rewards® and Helly Hansen acquisition\nCTC closed acquisition of Helly Hansen on July 3, 2018\n\n\n\nTORONTO, Aug. 9, 2018 /CNW/ - Canadian Tire Corporation, Limited (TSX:CTC, TSX:CTC.A) today released second quarter results for the period ended June 30, 2018.\n\n\"In the second quarter, we significantly advanced our strategic agenda to strengthen our retail operations and financial services business, and set a foundation for our international growth,\" said Stephen Wetmore, President and CEO, Canadian Tire Corporation. \"The launch of Triangle Rewards®, our new loyalty program, the introduction of Canada's best credit card offering, Triangle World Elite and the completion of our international brand acquisition, Helly Hansen, are all critical cornerstone investments for our future. These investments along with the continued development of our digital, owned brands and online capabilities reflect our commitment to the long term success of CTC and are evident in our results for the quarter.\"\n\n\"While our expectations for growth in the quarter were much higher, it is a testament to the strength of our brands that we grew our retail sales on a year over year basis, despite all of our retail businesses being affected by one of the coldest months of April on record,\" added Wetmore.\n\nCONSOLIDATED OVERVIEW\n\n\nConsolidated retail ...