TORONTO — Canadian Tire Corp. (TSX:CTC) says profits rose 20.5 per cent in the third quarter on stronger sales.
The retailer, which sells a wide array of automotive, hardware and sports products, reported net income of $199.7 million from $172.2 million a year ago.
The results were equivalent to $2.62 on a per share basis versus $2.17 in the comparable period.
The company's total revenue increased 1.9 per cent to $3.13 billion from $3.07 billion.
Within its retail division, sales grew two per cent, though they were hindered by the negative effects of lower oil prices on gasoline sales.
The Canadian Press