The 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
Retail sales were flat in the fourth quarter for Canadian Tire Corp. Ltd., as the company’s automotive business continued to offset declines in demand for products such as home improvement and entertainment products.
The results for the 13 weeks ended Dec. 31 – including the all-important holiday period – showed that sales held steady at Canadian Tirecompared to a strong period the prior year when comparable sales grew by nearly 10 per cent. But the purchasing trends still pointed to an ongoing shift in consumer behaviour across the country, as inflation-weary shoppers continue to spend on essential products such as tires and pet supplies, while cutting back on non-essential expenses.
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