This post was originally published on this site
https://i-invdn-com.investing.com/trkd-images/LYNXMPEIA90FQ_L.jpg
Like its U.S. peers, Canadian Tires’ profits are getting squeezed as consumers pinched by higher prices for everything from toothpaste to gas curtail spending on non-essential items such as apparel and home decor.
The company’s net income fell to C$225 million ($165.83 million) in the third quarter ended Oct. 1 from C$279.5 million a year earlier.
The company’s total revenue rose 8.1% to C$4.23 billion ($3.12 billion), in line with analysts’ average estimate of C$4.23 billion, according to IBES data from Refinitiv.
($1 = 1.3568 Canadian dollars)
