Canadian Tire Has Strong First Quarter

Comparable sales in the retail segment at Canadian Tire Corporation, Limited grew 19.2 per cent in the first quarter of 2021. This was driven by double digit growth in over 60 per cent of product categories. Normalized retail income before income taxes grew by $203.3 million, reflecting growth of 26.8 per cent, fuelled by continued strong dealer demand. Retail segment revenue increased $519.6 million to $3,022.8 million, or 20.8 per cent, compared to prior year. Excluding petroleum, retail segment revenue increased 26.8 per cent over the same period in 2020. eCommerce sales surged 257 per cent across all retail banners and digital visits grew 60 per cent across all banners.