Canadian Tire is a family of businesses that includes financial services, real estate and retail — its best-known segment. The company's brands include its Canadian Tire stores, sports equipment and clothing retailer SportChek, clothing store Mark's, and sportswear and workwear brand Helly Hansen. Sales were also negatively impacted by the decision to move bicycle inventory from SportChek to Canadian Tire stores in the second quarter. The increased payment to shareholders came as Canadian Tire reported a profit attributable to shareholders of $296.3 million or $4.84 per diluted share, up from $197.2 million or $3.20 per diluted share a year ago. On a normalized basis, Canadian Tire says it earned $4.93 per diluted share in its most recent quarter, up from $3.46 per diluted share in the third quarter of 2019.

Source: CBC News November 06, 2020 15:11 UTC