Canadian Tire Corporation Reports Strong First Quarter 2025 Results

FIRST-QUARTER HIGHLIGHTS

• Consolidated comparable sales were up 4.7% and consolidated retail sales¹ were up 5.1%. Increased trips drove sales growth across all banners, with particular strength in Ontario, Quebec and Eastern Canada.
  • Canadian Tire Retail (CTR) comparable sales¹ grew 4.7%, with growth across all CTR divisions except Fixing, led by strong growth in seasonal weather-related categories. Auto maintenance, outdoor tools, and auto parts were the top-performing lines of business in the quarter.
  • SportChek delivered a third consecutive quarter of comparable sales¹ growth, up 6.3%, driven by strong sales across both corporate and franchise stores. Skiing and snowboards, hockey, and outerwear were the top performing categories in the quarter.
  • Mark’s comparable sales¹ were up 2.2%, driven by industrial wear. New store openings continued to be the most significant contributor to retail sales growth and advances in in-store Net Promoter Score (NPS).
• Backed by the strength of the Canadian Tire brand and Triangle member engagement, loyalty sales growth outperformed retail sales. Loyalty penetration¹ was up 132 bps, reaching 54.5% of retail sales on a direct scan, rolling 12-month basis.
• Consolidated income before income taxes (IBT) was down $51.3 million to $51.6 million and Diluted EPS was $0.67, including the results for Helly Hansen business (now included in discontinued operations) and expenses related to the implementation of the Company’s True North strategy.
• Normalized for the True North expenses, IBT¹ on a continuing operations basis was up $62.8 million to $165.7 million, which resulted in Normalized Diluted EPS (continuing operations) of $2.00, up $0.92 from last year. Improved IBT was mainly due to an increase in retail segment profitability.
  • Normalized Retail IBT¹ on a continuing operations basis was $50.9 million, up $69.2 million, due to higher gross margin and lower interest expense.
  • Financial Services IBT was $97.0 million, up $1.3 million, as higher revenue offset expected increases in net impairment losses, as well as higher funding costs.

https://www.newswire.ca/news-releases/canadian-tire-corporation-reports-strong-first-quarter-2025-results-865507253.html