Declined Shipments Behind Canadian Tire Revenue Slide

Canadian Tire Corporation, Limited had consolidated retail sales of $4.6 billion for the third quarter of 2021, an increase of 4.3 per cent over sales of $4.41 billion in the third quarter of 2020. Excluding petroleum, consolidated sales were up 1.6 per cent year-over-year. Revenue for the retail segment (CTR) decreased $77.7 million, or 2.1 per cent in the quarter compared to the year-ago period. Excluding petroleum, revenue decreased 6.2 per cent, due to a decline in shipments to dealers at Canadian Tire. Retail revenue was up 9.4 per cent compared to 2019 and, excluding petroleum, up 11.1 per cent, with Canadian Tire revenue up 14.1 per cent compared to 2019.