SportChek Sales Inch Lower, but Canadian Tire Soars
Revenues at Canadian Tire’s sporting goods banners slipped 2% to C$533.2 million ($400.3 mm) from C$543.3 million in the third quarter, including a -1.4% comp, blamed on fewer promotional events, a slower Back-to-School season, and declines in hockey and team sports. E-commerce was a bright spot, continuing to deliver strong growth, and the clothing accessories, hiking & camping and golf categories were called out for a strong performance compared to 2019. Sales per square foot tumbled 8.7% to C$277 from C$304, but gross margin improved an unspecified amount due to fewer promotions this year. The quarter benefitted from having all ... Log in to view full article.