* Fourth-qtr earnings C$2.00/share vs C$2.03 last year
* Total revenue up 1 pct
* Same-store sales at Canadian Tire Retail falls 1.1 pct
Feb 21 Diversified retailer Canadian Tire Corp
reported a slightly lower fourth-quarter profit as a
result of restructuring charges and costs related to its
acquisition of FGL Sports in August 2011.
Net income fell to C$163.1 million ($160.7 million), or
C$2.00 per share, in the second quarter, from C$166.3 million,
or C$2.03 per share, a year earlier. It took a restructuring
charge of C$19.6 million during the quarter.
Canadian Tire, one of Canada's biggest and best-known
retailers, had announced a number of executive departures in the
quarter to cut costs.
Revenue rose 1 percent to C$3.16 billion. Sales in its
flagship Canadian Tire banner fell 2 percent to C$1.55 billion.
The company said adjusted fourth-quarter profit rose 2.8
percent on better performance in its credit card business.
Toronto-based Canadian Tire said it planned to integrate its
retail business and financial services division next year by
offering new credit products and in-store instant credit.
Same store sales at its namesake retail brand fell 1.1
percent due to the late onset of winter in Ontario and Quebec.
Comparable sales at its Mark's brand, which sells work clothes
and boots, increased 3.5 percent.
Revenue in FGL Sports rose 4.3 percent.
Shares of the Toronto-based company, which has a market
value C$5.58 billion, were down 1 percent at C$67.55 in early
Thursday trade on the Toronto Stock Exchange.
Canadian Tire's shares have risen 9 percent in the past
year, trailing an 18 percent rise in the broader S&P TSX
Canadian consumer discretionary index during the same