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Canadian Tire ‘bullish’ on auto parts and service as consumers focus on essentials
Canadian Tire Corp. Ltd. capped its centennial year with strong growth in its automotive business as demand for auto parts and service helped offset softer spending on non-essential items, the company said Thursday. The standout performance of its auto division underscored a broader consumer focus on essential goods and services across the company’s banners as inflation erodes discretionary incomes in Canada. Canadian Tire, which includes its namesake Canadian Tire stores, PartSource, Mark’s and SportChek, said its consolidated comparable sales rose slightly in its fourth quarter, up 0.3 per cent compared against hefty gains posted in the same period a year ago. At its Canadian Tire chain, comparable sales were flat…


