Advertisement
Canada markets close in 4 hours 27 minutes

  • S&P/TSX

    21,786.72
    -87.00 (-0.40%)
     

  • S&P 500

    5,008.37
    -63.26 (-1.25%)
     

  • DOW

    37,857.25
    -603.67 (-1.57%)
     

  • CAD/USD

    0.7301
    +0.0004 (+0.05%)
     

  • CRUDE OIL

    82.27
    -0.54 (-0.65%)
     

  • Bitcoin CAD

    87,166.41
    -1,741.04 (-1.96%)
     

  • CMC Crypto 200

    1,374.66
    -7.92 (-0.57%)
     

  • GOLD FUTURES

    2,340.70
    +2.30 (+0.10%)
     

  • RUSSELL 2000

    1,965.52
    -29.90 (-1.50%)
     

  • 10-Yr Bond

    4.7040
    +0.0520 (+1.12%)
     

  • NASDAQ

    15,443.74
    -269.01 (-1.71%)
     

  • VOLATILITY

    17.00
    +1.03 (+6.45%)
     

  • FTSE

    8,077.12
    +36.74 (+0.46%)
     

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

  • CAD/EUR

    0.6809
    -0.0010 (-0.15%)
     
BREAKING:

HONDA TO SET UP $15B EV PRODUCTION BASE IN CANADA

Automaker to get up to $5B in government assistance for EV battery, assembly plants

Retailer Canadian Tire's quarterly profit beats estimates

Reuters
The Canadian Tire logo is seen in Ottawa, Ontario, Canada, February 14, 2019. REUTERS/Chris Wattie

(Reuters) - Retailer Canadian Tire Corp Ltd reported a better-than-expected fourth quarter profit on Thursday, helped by strong demand for toys and electronics.

Sales in Canadian Tire's retail unit, its biggest, rose 0.6 percent in the quarter, compared with 3.8 percent a year earlier.

The company, which is broadening its retail offerings by including private labels in addition to rolling out options like home delivery, is competing against global ecommerce giants like Amazon.com and Walmart Inc to win back market share.

Canadian Tire's net income fell to C$278.2 million ($209.8 million), or C$3.99 per share, in the fourth quarter ended Dec. 31, from C$ 295.4 million, or C$4.10 per share, a year earlier.

ADVERTISEMENT

Excluding one-time items, the company earned C$4.78 per share, beating the average analyst estimate of C$4.69, according to IBES data from Refinitiv.

Revenue rose to C$4.13 billion from C$3.92 billion.

(Reporting by Shradha Singh in Bengaluru; Editing by Maju Samuel)