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Canadian Tire profit falls 3 percent
May 14, 2015 / 12:16 PM / 3 years ago

Canadian Tire profit falls 3 percent

(Reuters) - Retailer Canadian Tire Corp (CTCa.TO) reported a 3 percent fall in first-quarter profit, hurt by higher taxes.

Canadian Tire Corporation CEO Michael Medline speaks during their annual general meeting for shareholders in Toronto, May 14, 2015. REUTERS/Mark Blinch

Net income attributable to the company fell to C$68.5 million ($57.31 million) in the quarter ended April 4 from C$70.6 million a year earlier.

    Earnings per share were unchanged at 88 Canadian cents.

    The Toronto-based company’s revenue fell 2.3 percent to C$2.51 billion.

    (This story corrects paragraph 1 to remove reference to “a drop in earnings from its financial services business”; corrects earnings per share in paragraph four to 88 Canadian cents from 88 cents)

    Reporting By Manya Venkatesh in Bengaluru; Editing by Saumyadeb Chakrabarty

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