Canadian Tire Corp. Ltd. says it’s closing all its Nationwide Sports activities retail shops to cut back overlap within the firm’s sporting items assortment and achieve efficiencies.
Gregory Craig, the retailer’s chief monetary officer, advised traders that every one 18 shops will probably be closing.
He says it was a troublesome resolution for the corporate due to its affect on folks.
Craig says the corporate is making each effort to position affected staff throughout the retailer’s household of shops, which incorporates Canadian Tire, Sport Chek and Mark’s.
The corporate made the announcement because it reported that its fourth-quarter revenue and income each rose considerably in contrast with a 12 months in the past.
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The retailer says its web revenue attributable to shareholders totalled $488.8 million or $7.97 per diluted share for the quarter ended Jan. 2.
The consequence was up from $334.1 million in web revenue attributable to shareholders or $5.42 per diluted share in its fourth quarter a 12 months earlier.
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Income was $4.87 billion, up from $4.32 billion.
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On an adjusted foundation, Canadian Tire mentioned it earned $8.40 per diluted share, up from $5.53 a 12 months earlier.
Analysts on common had anticipated an adjusted revenue of $6.69 per share and $4.83 billion in income, in line with monetary knowledge agency Refinitiv.
Right here’s the place the 18 Nationwide Sports activities shops are situated:
- 353 Bayfield St. Barrie, Ont.
- 539 Steeles Avenue E. Brampton, Ont.
- 83-600 Hespeler Rd. Cambridge, Ont.
- 2160 Hwy 7 W. Harmony, Ont.
- 2921 Eglinton Ave. W. Mississauga, Ont.
- 970 Higher Wentworth St. Hamilton, Ont.
- 332 Wellington Rd. S. London, Ont.
- 1735 Richmond St. London, Ont.
- 1770 Dundas St. E. Mississauga, Ont.
- 1111 Davis Dr. Newmarket, Ont.
- 210 N. Service Rd. Oakville, Ont.
- 4338 Innes Rd. Ottawa, Ont.
- 81 George St. N. Peterborough, Ont.
- 699 Kingston Rd. Pickering, Ont.
- 1455 McCowan Rd. Scarborough, Ont.
- 13580 Tecumseh Rd. E. Windsor, Ont.
- 24 Forwell Creek Rd. Waterloo, Ont.
- 3051 Legacy Park Dr. Windsor, Ont.
With information from International Information
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