Canadian Tire profit up 16 pct as retail sales rise

Thu Aug 8, 2013 7:44am EDT
 
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Aug 8 (Reuters) - Canadian Tire Corp, best known for automotive and homeware stores, reported a 16 percent rise in second-quarter profit as higher sales in its namesake retail brand boosted margins.

The company's net income rose to C$154.9 million ($148.6 million), or C$1.91 per share, from C$133.7 million, or C$1.63 per share, a year earlier.