Canadian Tire's second quarter e-comm sales accelerate 34% to $857 mn

Canadian Tire Corporation, a Canada-based retail firm selling home goods, sporting equipment, apparel and footwear, reported 23.9 per cent revenue increase to $3.9 billion (Canadian Dollars) in second quarter (Q2) of FY21 ended on July 3, 2021, against $3.2 billion in the same period of last fiscal. E-commerce sales advanced 34 per cent to $856.7 million.

 

Canadian Tire Corporation, a Canada-based retail firm selling home goods, sporting equipment, apparel and footwear, reported 23.9 per cent revenue increase to $3.9 billion (Canadian Dollars) in second quarter (Q2) of FY21 ended on July 3, 2021, against $3.2 billion in the same period of last fiscal. E-commerce sales advanced 34 per cent to $856.7 million.#

“I am pleased with our strong results, which clearly demonstrated our omni-channel capabilities and the growing customer connection to our brand. With a third of our stores impacted by closures, and many more subjected to restrictions during the quarter, our customers embraced our digital channels, driving e-commerce sales to record levels and doubling the volume of orders compared to last quarter,” Greg Hicks, president and CEO at Canadian Tire Corporation, said in a press release. 

 

Canadian Tire Corporation, a Canada-based retail firm selling home goods, sporting equipment, apparel and footwear, reported 23.9 per cent revenue increase to $3.9 billion (Canadian Dollars) in second quarter (Q2) of FY21 ended on July 3, 2021, against $3.2 billion in the same period of last fiscal. E-commerce sales advanced 34 per cent to $856.7 million.#

“Demand for our Owned Brands reached 38 per cent of total sales across our Canadian Tire, SportChek and Mark's banners and helped drive our strong product margins,” Hicks added.

 

Canadian Tire Corporation, a Canada-based retail firm selling home goods, sporting equipment, apparel and footwear, reported 23.9 per cent revenue increase to $3.9 billion (Canadian Dollars) in second quarter (Q2) of FY21 ended on July 3, 2021, against $3.2 billion in the same period of last fiscal. E-commerce sales advanced 34 per cent to $856.7 million.#

Gross margin for the second quarter rose to $1.3 billion ($940.7 million), while net income rose to $259.1 million ($2.3 million).

 

Canadian Tire Corporation, a Canada-based retail firm selling home goods, sporting equipment, apparel and footwear, reported 23.9 per cent revenue increase to $3.9 billion (Canadian Dollars) in second quarter (Q2) of FY21 ended on July 3, 2021, against $3.2 billion in the same period of last fiscal. E-commerce sales advanced 34 per cent to $856.7 million.#

Comparable store sales at SportChek climbed 28.6 per cent, and Mark's surged 43.2 per cent, respectively, led by sales of athletic and industrial footwear and apparel, according to the company. Consequently, Owned Brands penetration improved 38 per cent across the banners, representing close to $1.6 billion of sales in Q2 FY21, with growth coming from Raleigh, Canvas, Diamondback and Denver Hayes.