Canadian Tire Corp. reported SportChek retail sales were up 3.8 percent in the third quarter and comparable sales grew 4.6 percent. Helly Hansen revenue in the quarter was $211.7 million, up 16.5 percent.

Companywide,Consolidated retail sales increased $39 million, or 1.0 percent, in the third quarter. Excluding Petroleum, consolidated retail sales were up 2.7 percent over the same period last year.

Consolidated revenue increased $5.4 million, or 0.1 percent. Excluding Petroleum, consolidated revenue increased 1.7 percent.

Normalizing items in the quarter include costs incurred related to the acquisition of Party City and related to the Company’s Operational Efficiency program; and for costs incurred related to the acquisition of Helly Hansen in the prior year.

Diluted earnings per share (EPS) was $3.20, an increase of 1.5 percent; normalized diluted EPS was $3.46, a decrease of $0.01 per share, or 0.3 percent. EPS growth was 10.2 percent when adjusted for accounting changes at Financial Services, totaling $36.4 million, made in the prior year.

“Our business is performing well and as one of Canada’s largest eCommerce retailers, having generated more than $500 million in sales in the last 12 months, we are exceptionally well-positioned as we head into our customers’ biggest spending season,” said Stephen Wetmore, President and CEO, Canadian Tire Corporation. “Operating as One Company across our multiple banners focused on serving One Customer has driven significant investments in our loyalty program, organizational structure and our data and digital infrastructure. We have been confidently focused on securing CTC’s long-term competitive positioning. Our ability to operate as One Company, having built the foundation supporting the most critical parts of our strategy, now positions us to focus on our Operational Efficiency program. I am pleased to announce that we have set our target at $200+ million in annualized savings by 2022.”

“We are also announcing our eleventh dividend increase in ten years and the continuation of our share repurchase program, now in its eighth consecutive year, both of which are further evidence of our ongoing investment in our Company and confidence in its long-term growth,” continued Wetmore.