In a bear market, the “winners” are few and far between — but one of them is Canada’s iconic retailer. The company raised its dividend by 25 per cent as it reported first-quarter profit and revenue growth compared to a year ago. Comparable sales grew 4.5 per cent, with automotive, hockey and winter categories leading the way. In its Q1 results, Canadian Tire also said it was doubling-down on its rewards programs to collect consumer data and shape sales through promotions.
It used to be impossible to walk down King St. without seeing someone in a Goose. But the parka company’s outerwear has been falling out of fashion, and it turns out that other retailers are equally capable of engineering warm jackets. In its fourth-quarter, the Toronto company reported revenue loss of $9.1 million as store closures across Asia hit sales in those markets. That said, the company saw higher revenue coming from North American stores over the past year.
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