© Reuters. FILE PHOTO: The Canadian Tire logo is seen in Ottawa, Ontario, Canada, February 14, 2019. REUTERS/Chris Wattie/File photo
(Reuters) – Retailer Canadian Tire Corp Ltd reported a near 20% fall in quarterly profit on Thursday, as inflation-weary consumers cut back on high-margin discretionary purchases such as sport equipment and auto parts.
The company’s net income fell to C$225 million ($165.83 million) in the third quarter ended Oct. 1, from C$279.5 million, a year earlier.
($1 = 1.3568 Canadian dollars)
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