Canadian Tire reports Q4 profit and revenue up from year ago

Canadian Tire revenue up

Photo: The Canadian Press

Shoppers come and go from a Canadian Tire store in Ottawa on Friday, Aug. 11, 2023.  

Canadian Tire Corp. Ltd. reported its fourth-quarter profit rose compared with a year earlier as its revenue crept higher.

The retailer says its net income attributable to shareholders totalled $411.5 million or $7.37 per diluted share for the quarter ended Dec. 28, up from $172.5 million or $3.09 per diluted share a year earlier.

Revenue for the quarter was $4.51 billion, up from $4.44 billion, as consolidated retail sales rose 1.1 per cent.

The company says comparable sales at its Canadian Tire stores grew 1.1 per cent, while SportChek comparable sales gained 0.4 per cent.

Mark's comparable sales rose 1.8 per cent.

Canadian Tire says normalized earnings for the quarter amounted to $4.07 per diluted share, up from $3.38 per diluted share in the fourth quarter of 2023.