November 10, 2016 / 11:52 AM / a year ago

Canadian Tire's profit falls 11.7 pct

Nov 10 (Reuters) - Retailer Canadian Tire Corp Ltd’s quarterly profit fell 11.7 percent as lower gasoline prices hurt petroleum retail revenue.

Net income attributable to the company fell to C$176.4 million ($131.4 million), or C$2.44 per share, in the third quarter ended Oct. 1, from C$199.7 million, or C$2.62 per share, a year earlier. bit.ly/2eFd9d5

Total retail sales, which exclude revenue generated from Canadian Tire’s financial services and real estate investment trust businesses, rose 3.4 percent to C$3.52 billion. ($1 = C$1.3425) (Reporting by John Benny in Bengaluru; Editing by Maju Samuel)

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