Cana­dian Tire sees sales pick up in June af­ter slow spring

The Guardian (Charlottetown) - - BUSINESS -

TORONTO - Cana­dian Tire Cor­po­ra­tion, Ltd. (TSX:CTC.A) says its sec­ond quar­ter re­sults ben­e­fited from a pickup in sales growth in June af­ter a slow start to the spring and summer sea­son.

The Toronto-based com­pany’s over­all rev­enue was $3.41 bil­lion dur­ing the quar­ter ended July 1, up 1.8 per cent from the com­pa­ra­ble pe­riod last year. Ex­clud­ing pe­tro­leum sales, Cana­dian Tire’s rev­enue was up $34 mil­lion or 1.2 per cent - mostly from re­tail sales at ban­ners that in­clude Cana­dian Tire, Mark’s and Sport Chek.

Cana­dian Tire said it was able to con­trol ex­penses dur­ing the quar­ter, re­sult­ing in higher gross mar­gins driven by higher rev­enue at Mark’s, FGL Sports and the fi­nan­cial ser­vices seg­ment and bet­ter mar­gins at Cana­dian Tire.

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