UPDATE 2-Canadian Tire profit drops as financial unit skids

* Adjusted EPS C$1.11 vs analyst forecast C$1.08

* Revenue falls 6 pct to C$2.45 billion

* Same store sales drop 3.8 percent

* Shares up 0.8 percent at C$58.25

(Adds analyst and company comments)

By Scott Anderson

TORONTO, Nov 12 (Reuters) - Canadian Tire Corp (CTC.TO) (CTCa.TO) reported a lower quarterly profit on Thursday as weak same store sales and growing loan loss provisions in its financial services business cut into profits.

Canada's biggest auto parts and household goods retailer said third quarter profit dropped almost 22 percent despite flat sales on the weak financial services division.

It said new credit card legislation due in 2010 would bring a pre-tax hit of between C$8 million and C$10 million because of the impact on interest charges, payment allocation methodology and credit limit increase approvals.