Canadian Tire Corp ( (CDNTF) ) has released its Q4 earnings. Here is a breakdown of the information Canadian Tire Corp presented to its investors.
Canadian Tire Corporation, Limited is a prominent Canadian retail company that operates in the retail sector, providing a wide range of products across its various divisions including automotive, sports, casual wear, and home goods. The company also has a financial services segment and real estate investments through CT REIT. Canadian Tire is known for its extensive network of retail and gasoline outlets across Canada.
Canadian Tire Corporation has announced a robust financial performance for the fourth quarter and full year of 2024, highlighted by a strong December sales surge that led to a return to comparable sales growth. The company reported a notable increase in diluted earnings per share, both for the quarter and the full year, showcasing improved profitability.
Key financial metrics from the report include a 1.1% increase in consolidated comparable sales for Q4, driven largely by strong growth in the automotive segment and new store openings at Mark’s. The company’s loyalty program, Triangle, showed significant engagement with a 4% increase in loyalty sales. Full-year results reflected a 21.7% increase in normalized diluted earnings per share to $12.62, despite a slight decline in overall retail sales.
The company has been executing its Better Connected strategy since 2022, focusing on modernizing its retail operations and enhancing digital capabilities. This strategy has contributed to increased eCommerce sales and customer satisfaction. Canadian Tire also continued to strengthen its owned brands and expand its retail footprint, including new investments in supply chain and IT infrastructure.
Looking ahead, Canadian Tire Corporation remains committed to enhancing its retail and digital operations, with plans for significant capital expenditures in 2025. The company’s management is optimistic about the potential for continued growth, driven by strategic investments and an engaged customer base.