ONLINE SALES REV UP RESULTS FOR CANADIAN TIRE

Canadian Tire Corp Ltd reported better-than-expected quarterly results on Thursday, as customers bought more tools, kitchenware and gardening products online during the COVID-19 crisis. E-commerce has boomed this year as people order everything from furniture to food supplies and electronic gadgets online. Canadian Tire said its online sales rose more than two-fold in the third quarter. It also benefited from the reopening of its 203 Ontario stores, driving same-store sales 18.9 per cent higher. The company's revenue rose to $3.99 billion from $3.64 billion, beating analysts' estimates of $3.82 billion, Refinitiv IBES data showed. Excluding one-time items, Canadian Tire earned a profit of $4.93 per share, beating expectations of $3.73 per share.