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Company News

Retailer Canadian Tire reports lower quarterly profit

Feb 14 (Reuters) - Diversified retailer Canadian Tire Corp Ltd reported a 5.8 percent fall in quarterly profit on Thursday, partly hurt by a rise in expenses.

Net income fell to C$278.2 million ($209.8 million), or C$3.99 per share, in the fourth quarter ended Dec. 31, from C$ 295.4 million, or C$4.10 per share, a year earlier.

The Toronto-based company’s revenue rose to C$4.13 billion from C$3.92 billion.

$1 = C$1.33 Reporting by Shradha Singh in Bengaluru; Editing by Maju Samuel

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