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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Canadian Tire Corporation, Limited    CTC.A   CA1366812024

CANADIAN TIRE CORPORATION, LIMITED

(CTC.A)
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Delayed Quote. Delayed Toronto Stock Exchange - 09/25 04:00:00 pm
134.34 CAD   +0.80%
09/23TSX falls 2.02% to 15,817.11
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08/17NEWS HIGHLIGHTS : Top Company News of the Day
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Canadian Tire posts quarterly loss as stores shut amid pandemic

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05/07/2020 | 03:39pm EDT

Canadian Tire Corp Ltd on Thursday reported a quarterly loss compared with a year-ago profit, as its stores remained closed due to COVID-19 lockdowns across the country and it put aside more money to brace for a raft of potential defaults in its financial services business.

The company limited service to curbside pick-ups and home deliveries at its 203 namesake stores in Ontario and closed its other units such as Mark's and SportChek, following government orders.

However, it struggled to keep its online services running amid a surge in orders, leaving its website inaccessible for many customers who were asked to place requests only over the phone. Comparable sales declined 0.3% for the quarter, even as online sales surged 80% in Canadian Tire stores and 44% overall.

Chief Executive Officer Greg Hicks said the company had seen a "quantum leap" in e-commerce performance across all its banners and has poured more money into digital capabilities.

On a call with analysts, Hicks said the rise in online sales still did not compensate for the loss of foot traffic in closed stores.

Canadian Tire's financial services unit, which operates its credit card business and offers cashback at its stores and gas stations, reported a 22.2% fall in gross margin due to a C$44.9 million rise in expected credit loss.

Excluding one-time items, the company reported a loss of 13 Canadian cents per share.

Revenue fell 1.6% to C$2.85 billion.

Net income fell to C$12.2 million ($8.67 million)in the quarter, from C$97.4 million, a year earlier

On a per-share basis, the company reported a loss of 22 Canadian cents per share, compared with a profit of C$1.12 per share a year earlier.

(This story corrects to remove reference to Refinitiv estimates in headline, paragraph 1, 7 and 8).

(Reporting by Nivedita Balu in Bengaluru; Editing by Ramakrishnan M.)

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All news about CANADIAN TIRE CORPORATION, LIMITED
09/23TSX falls 2.02% to 15,817.11
RE
09/16CANADIAN TIRE : retailers scramble to keep up with surging demand for patio heat..
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08/17NEWS HIGHLIGHTS : Top Company News of the Day
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08/17NEWS HIGHLIGHTS : Top Company News of the Day
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Financials
Sales 2020 14 315 M 10 685 M 10 685 M
Net income 2020 483 M 361 M 361 M
Net Debt 2020 6 164 M 4 601 M 4 601 M
P/E ratio 2020 19,2x
Yield 2020 3,39%
Capitalization 8 451 M 6 302 M 6 308 M
EV / Sales 2020 1,02x
EV / Sales 2021 1,02x
Nbr of Employees 22 439
Free-Float 94,1%
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Technical analysis trends CANADIAN TIRE CORPORATION, LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 132,91 CAD
Last Close Price 134,34 CAD
Spread / Highest target 25,1%
Spread / Average Target -1,07%
Spread / Lowest Target -27,1%
EPS Revisions
Managers
NameTitle
Greg Hicks President, Chief Executive Officer & Director
Maureen Joanne Sabia Non-Executive Chairman
Gregory Craig Chief Financial Officer & Executive Vice President
Rex William Lee Chief Information Officer & Senior Vice President
Owen G. Billes Non-Independent Director
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