- Angela Gonzalez-Rodriguez |
The Canadian retailer Tire Corp Ltd (CTCa.TO) reported a better-than-expected quarterly profit on Thursday.
The auto-inspired car accessories and apparel brand benefited from an early winter in some parts of the country, which fostered demand for winter tires, batteries and apparel.
As a result, same-store sales at FGL Sports, which the company touts as its destination banner for millennials, rose 5.8 percent in the quarter, according to Reuters.
Group’s consolidated same-store sales rose 3.9 percent over their fourth in the fourth quarter.
Net income attributable to the retailer rose about 12 percent to 275.7 million Canadian dollars (220.68 million U.S. dollars), or 4.10 Canadian dollars per share in the quarter. These figures compare against analysts’ expectations of a profit of 3.80 Canadian dollars per share, according to Thomson Reuters I/B/E/S.