August 11, 2011 / 12:45 PM / 6 years ago

UPDATE 1-Canadian Tire profit falls on higher spending

TORONTO, Aug 11 (Reuters) - Canadian Tire Corp’s (CTC.TO) (CTCa.TO) profit fell 14 percent on Thursday, missing market estimates, as it spent more on promotions and invested in infrastructure.

    Second-quarter earnings fell to C$105.8 million, or C$1.29 a share, from C$122.8 million, or C$1.50 a share, a year ago. Analysts, on average, had expected earnings of C$1.45 a share, according to Thomson Reuters I/B/E/S.

    Revenue rose 4 percent to C$2.57 billion, compared with the average analyst estimate of C$2.62 billion.

    $1=$1 Canadian Reporting by S. John Tilak

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below