SportChek Sales Drop on Store Closures
Canadian Tire’s sporting goods banners saw revenue drop 32% to C$306.7 million ($221.3 mm) from C$452.5 million in the second quarter, including retail sales that were down 25%. CTC did not report comp store sales or sales per square foot for the quarter due to store closures in April and May. Once stores began to reopen, sales rebounded and SportChek was up 3.2% in June. The top line was driven by cycling and wellness categories, but licensed apparel saw a decline in Q2 lapping the Raptors championship sales in 2019. Of the 398 SportChek, Atmosphere, and, National Sports banners stores ... Log in to view full article.