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Canadian Tire Corporation Reports Continued Momentum in Second Quarter Results
Canadian Tire Corporation Reports Continued Momentum in Second Quarter Results Can...
About this update from Canadian Tire Corporation, Limited
[{"type":"text","content":"\n\n\n\nCanadian Tire Corporation Reports Continued Momentum in Second 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\n\nCanada NewsWire\nTORONTO, Aug. 8, 2019\n\n\n\nRetail revenue increased 7.8% in Q2 and 6.7% year to date, excluding Petroleum Consolidated comparable sales up 2.2% in the second quarter, 3.8% year to date: Canadian Tire up 1.9%, 3.8% year-to-date Mark's up 2.6%, 3.9% year-to-date SportChek up 3.7%, 3.6% year-to-date Financial Services gross average credit card receivables (GAAR) growth up 8.3%, revenue up 7.5% Financial Services earnings was $95.5 million, up 12.5%, normalized Diluted earnings per share (EPS) was $2.87, an increase of 20.5%, normalized diluted EPS was $2.97 up 13.8% As announced separately today, Canadian Tire Corporation has entered into an agreement to purchase Party City's Canadian business for $174.4 million (including ~$40 million in inventory). Details can be found at: https://www.newswire.ca/news-releases/canadian-tire-corporation-to-acquire-party-city-s-canadian-business-858924226.html TORONTO, Aug. 8, 2019 /CNW/ - Canadian Tire Corporation, Limited (TSX:CTC, TSX:CTC.A) today released second quarter results for the period ended June 29, 2019.\n\"Our top-line results this quarter and our continued momentum year-to-date position us well as we enter the second half of 2019. Our exclusive brands and products are clearly resonating with our customers, and through our Triangle Rewards loyalty and credit card programs they are engaging with us more often and shopping across our channels and banners, signaling the effectiveness of our growing Triangle marketplace,\" said Stephen Wetmore, President and CEO, Canadian Tire Corporation. \"We are executing well against our ambitious growth agenda. Our latest additions of Party City's Canadian business, Paderno U.S., and several iconic bicycle brands, including Raleigh, Diamondback and Redline are perfect examples.\"\n\"Over the past year, our teams have made excellent progress on our One Company, One Customer strategy by investing in new business capabilities across CTC, incl...