Canadian Tire Corporation reports Q1 2026 results as retail sales dip

Canadian Tire Corporation, Limited announced on Thursday financial results for its first quarter ended April 4, 2026.

“In Q1, we delivered continued sales growth at SportChek and Mark’s and grew retail revenue as we positioned the business for spring demand,” said Greg Hicks, President and CEO, Canadian Tire Corporation.

“Canadian consumers remain resilient but selective, clearly prioritizing value, but not at the expense of quality products and shopping experiences. Our True North strategy has us squarely focused on modernizing around those needs.”

FIRST-QUARTER HIGHLIGHTS

• Consolidated Comparable sales were down 1.0%, with growth at SportChek and Mark’s offset by a decline at CTR.
  • CTR Comparable sales were down 2.3%. Fixing categories grew, while Seasonal and Gardening led the decline. Western Canada outperformed, with seasonal weakness impacting Ontario and Quebec. Automotive retail sales were up for the 23^rd consecutive quarter.
  • SportChek Comparable sales were up 3.3%, marking the seventh consecutive quarter of sales growth. The quarter saw strong performance from fanwear, athletic footwear and hard goods.
  • Mark’s Comparable sales were up 1.2% on higher casualwear sales. New-concept Bigger Bolder Better (BBB) stores remained a key driver.
• Loyalty sales outpaced non-loyalty sales, reflecting growth in active Triangle Rewards members, including increasing contributions from the Company’s loyalty partnerships with RBC and WestJet launched in Q1. 
• Retail Revenue growth was strong, up 2.9% or 5.0% excluding Petroleum, reflecting higher shipments to support the Q2 spring/summer season and replenishment at CTR.
• Consolidated Income before income taxes (IBT) was $169.1 million, up $117.5 million, mainly reflecting prior year restructuring expense, and up $3.4 million on a normalized basis. Retail IBT of $50.9 million was stable year-on-year on a normalized basis; Retail gross margin dollars increased on higher Retail Revenue, offset by higher IT and variable compensation expenses.

Canadian Tire Corporation, Limited is a group of companies that includes a Retail segment, a Financial Services division and CT REIT. The retail segment includes Mark’s, SportChek, Sports Experts, Pro Hockey Life, Hockey Experts, and Atmosphere. The company has over 1,600 retail and gasoline outlets.

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