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Company News

Canadian Tire posts quarterly loss as virus-led closures hit retail segment

Aug 6 (Reuters) - Retailer Canadian Tire Corp Ltd reported a quarterly loss on Thursday, as coronavirus-led closures, including at its Mark’s, Sport Chek and Helly Hensen stores, hit the company’s retail segment.

It posted a net loss attributable to the company shareholders of C$20 million ($15.07 million) in the second quarter ended June 27, compared with a profit of C$177.4 million a year earlier.

On a per share basis, it posted a loss of 33 Canadian cents, compared with a profit of C$2.87 per share, a year ago. ($1 = 1.3270 Canadian dollars) (Reporting by Mehr Bedi and Praveen Paramasivam in Bengaluru; editing by Uttaresh.V)

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