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Article Date: February 2024
Word Count: 247

SportChek Stumbles in Q4, and Helly Hansen is Also Lower


Canadian Tire’s sports banners had a difficult fourth quarter, posting a 13% drop in revenues to C$552.2 million ($405.7 mm) down from C$637.9 million, as a -6.4% same store sales decline extended last year’s -1.7% comp. Unseasonably warm weather and macro headwinds led to softening of consumer demand in outerwear, skiing/snowboards and winter clothing. Ramped up promotions impacted gross margins as well. For the full year, combined SportChek, Sports Experts, Atmosphere, Sports Rousseau and Hockey Experts revenues fell 7% to C$1,952.3 million from C$2,099.2 million, with comps down 3.2% lapping the ... Log in to view full article.

 


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