Canadian Tire Corporation Has Steady Sales

Canadian Tire Corporation, Limited’s consolidated retail sales were $5,729.4 million for the fourth quarter of fiscal 2022, up 1.2 per cent to compared to the fourth quarter of 2021, and up 17.6 per cent on a three-year stacked basis. Retail sales excluding petroleum were up 0.2 per cent year-over-year. Consolidated comparable sales were in line with 2021 and up 21.1 per cent on a three-year stacked basis. Revenue for the quarter was $5,340.4 million, up 3.9 per cent year-over-year. Consolidated income before taxes was $752.2 million, up 4.5 per cent compared to the fourth quarter of 2021. Retail revenue was $4,990.9 million, an increase 3.3 per cent compared to the prior year; excluding petroleum, retail revenue increased 2.3 per cent. Retail gross margin was up 3.5 per cent compared to the prior-year period or 3.4 per cent excluding petroleum. Retail gross margin rate (excluding petroleum) was up 40 basis points to 39.9 per cent.