FGL Sports saw retail sales increased 13.0 percent and same-store sales grew 8.5 percent in the third quarter over the same quarter last year, reflecting strong growth across key banners. Sport Chek, its largest banner by far, achieved its fourth quarter of double-digit same-store sales growth with an increase of 11.2 percent.
The results were reported Thursday by parent company, Canadian Tire Corporation, Ltd. (CTC), Canada's largest domestically owned retailer. In addition to owning the Canadian Tire general merchandise franchise, CTC owns the Mark's chain of apparel stores and Canada's largest chain of gasoline stations. CTC estimates 57 percent of Canadian sporting goods buyers purchased from either an FGL Sports banner or a Canadian Tire store in the past 12 months and that it is the fifth largest retailer of sporting goods in the world.
CTC reported total Retail segment revenue increased $94.6 million, or 3.5 percent, to $2.8 billion in the quarter.
Canadian Tire Retail delivered growth across its categories generating sales increases of 3.7 percent and same store sales of 3.2 percent over the third quarter last year.
Mark's retail sales grew 6.5 percent and same store sales were up 6.8 percent.
Petroleum sales decreased 0.4 percent in the quarter largely related to a decline in gasoline volume, partially offset by higher gas prices and an increase in non-gasoline sales.
CTC Retail's income before income taxes increased by $4.7 million, or 3.7 percent, to $130.8 million over the third quarter last year.
"The strong performance this quarter is very rewarding given that it was achieved against a strong quarter last year and reflects the successful culmination of our recent efforts to strengthen our brand and improve the in-store experience across our retail businesses," said CTC CEO Stephen Wetmore. "Financial Services also delivered another excellent quarter of strong receivables growth and continued to execute well on integration efforts with the retail businesses."
