SportChek Has Flat Q1 in Promotional Canadian Market
Sales at Canadian Tire’s SportChek sporting goods segment inched down to C$421.1 million ($316.6 mm) in the first quarter compared to $421.2 million last year, but comp store sales increased 3.4%, lapping a +3.8% comp in Q1 ‘18. Sales per square foot decreased slightly to C$299 from C$300, though e-commerce sales increased significantly, the retailer said. Gross margin continues to be pressured by aggressive pricing and promotion strategies to drive sales and traffic. Top performing categories were accessories, hydration and wellness, and athletic footwear. The division closed five net stores in Q1, ending with 193 ... Log in to view full article.