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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (152415)	8/10/2023 9:20:43 AM
From: Goose94	Read Replies (2) of 203260

Canadian Tire (CTC.A-T) warns Canadian Tire managed to beat earnings expectations but it came with weaker than expected revenue and a withdrawal of the retailer’s financial forecasts. Sales in all of Canadian Tire’s banners except Marks fell from last year. The company is also abandoning its financial goals made in March 2022. They blame current macro environment and consumer demand differing significantly from when they laid out in their goals. Inflation and higher interest rates have affected its ability to drive sales growth. Despite what sounds like a dire warning, RBC’s Irene Nattel calls this a non-event, saying “The Street had broadly discounted those as unachievable.” We will see if that’s true when the market opens. BNN.ca

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