Canadian Tire Corporation has reported an
increase in its sales and profits on February 9, 2012.
Shares of the company went up post mentioning
that its overall sales increased by 21% to $3.71 billion, which resulted due to
the acquisition of the Forzani sporting goods chain, also known as FGL Sports. Astonishingly,
the actual profits beat analyst’s estimates.
Furthermore, the net income declined to $166.3
million from $169.3 million in the same quarter last year. Similarly, shares
went from $2.07 to $2.03 during this time. Excluding the tax settlement,
earnings per share came in at $1.40.
Despite the warm weather hitting this company’s
business, its sales rose 2.7%.
No comments:
Post a Comment