Canadian Tire reported growth in its fourth quarter and full fiscal year, but a trend of slowing consumer spending may weigh. Read on.
Play Video
That shift in income-level spending is opposite of what appears to be happening generally in the United States, Yarbrough said. There, lower-income consumers are spending less overall and buying more essential goods and services over discretionary items. He sees the pullback in high-income spending as cause for concern.
But this year, Canadian Tire is carrying over products from spring and summer and in the fourth quarter, inventory was 30 per cent higher than last year. CFO Gregory Craig told analysts the elevated inventory was from lower-than-expected sales in the second and third quarter last year, early receipts of Helly Hansen merchandise and higher unit cost inflation.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canadian Tire sales flat as inflation-weary consumers spend on essentials but cut back elsewhereThe Toronto-based retailer said comparable sales in its latest quarter were up 0.3% across its store banners and down 0.1% at its flagship chain
Read more »
Canadian Tire sales, revenue up in fourth quarterCanadian Tire retail sales increased 1.2%to $5.73 billion and revenue grew almost 4% to $5.34 billion in the fourth quarter. Read more.
Read more »
Canadian Tire sales, revenue up in fourth quarterCanadian Tire retail sales increased 1.2%to $5.73 billion and revenue grew almost 4% to $5.34 billion in the fourth quarter. Read more.
Read more »
Canadian Tire reports Q4 profit and revenue up from year ago - BNN BloombergCanadian Tire Corp. Ltd. reported its fourth-quarter profit and sales were up compared with year ago.
Read more »
Brad Pitt, Jennifer Lawrence, Kate Hudson & More Dramatically Read Taylor Swift LyricsIt's not Valentine's Day without a group rendition of a Taylor Swift song. A wide range of celebrities, including Paul Mescal, Zoe Kravitz, Jennifer Lawrence, Brad Pitt, Margot Robbie, Ke Huy Quan, and Seth Rogen, came together to perform a dramatic reading mixed with a singing cover of Taylor Swift's smash 2012 hit 'We Are…
Read more »
'Read and react': How Dave McKay is gearing RBC up for a shallow recessionRBC CEO is cautiously optimistic that the Canadian economy will avoid a serious contraction in 2023. Find out more.
Read more »