The Globe and Mail reports in its Friday, Feb. 20, edition that Canadian Tire saw strong fourth quarter sales due to a snowy start to winter, as customers sought shovels, boots and cold-weather essentials, surpassing analyst expectations for growth. The Globe's Susan Krashinsky Robertson writes as economic uncertainty continues, shoppers are proving "resilient, but discerning," chief executive officer Greg Hicks said during a conference call on Thursday.
For example, sales of essential goods grew much more than discretionary purchases -- areas where people can cut back as they cope with continuing pressures on household budgets.
Mr. Hicks said: "We did have some good growth in snow blowers. Beyond that, that kind of healthy discretionary business is something we would look to come around in 2026."
One surprise in the results, he noted, was that the company's customer data indicated increasing spending spanning customers of all income levels. The largest increases in the fourth quarter came from households with the highest debt burdens.
Comparable sales rose by 4.2 per cent in the quarter ended Jan. 3, compared with the same period the prior year.
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