Canadian Tire's sales rise on automotive, home products demand

(Reuters) - Retailer Canadian Tire Corp Ltd CTCa.TO reported a rise in quarterly retail sales on Thursday, helped by higher demand for its automotive and home products and strong gas prices.

The company, which sells products ranging from automotive parts and apparel to Master Chef kitchen appliances, said consolidated same-store sales rose 3.9 percent in the third quarter.

The retailer, which also runs gas stations, said total revenue increased 5.6 percent. That included C$47.6 million in petroleum revenue, primarily on higher per liter gas prices.

In its Canadian Tire retail unit, which accounts for more than half the company’s total revenue , revenue rose 4.8 percent to C$1.69 billion ($1.33 billion).

Revenue from Mark’s, through which the company sells casual and work clothing and footwear, rose 5.6 percent to C$251.5 million.

Net income attributable to the company rose marginally to C$176.6 million, or C2.59 per share, in the quarter ended Sept. 30.

The company’s retail sales rose to C$3.70 billion from C$3.52 billion.

($1 = C$1.27)

Reporting by Nishara Karuvalli Pathikkal and Ahmed Farhatha in Bengaluru; Editing by Maju Samuel