Canadian Tire Corporation, Limited announced results for its fourth quarter and full year ended December 28, 2024.

Consolidated Q4 comparable sales and consolidated retail sales returned to growth and were both up 1.1%, driven by strong December sales across all banners; loyalty sales were up 4%.

“In the quarter, we charted strong earnings and a return to growth, while observing economic green shoots like improved consumer sentiment and spending,” said Greg Hicks, President and CEO, Canadian Tire Corporation. “The strength of Triangle Rewards was on display in Q4, as loyalty sales grew 4% and we activated more personalized promotions – having attracted and engaged nearly half-a-million new and returned members in 2024.

“As we look beyond our Better Connected strategy, we have growing evidence and conviction that a deeper connection of our retail banners and our loyalty system drives higher member engagement and sales.”

Overall results by the Canadian broad-based retailer can be found HERE, but here are some highlights that may be of particularly interest to those in the automotive space:

Canadian Tire Retail Q4 comparable sales grew 1.1%. Strong growth was led by Automotive and offset by modest declines across other divisions. Essential categories were up 4%, while consumer demand remained constrained in discretionary categories, which were down 2%.

Consolidated full-year retail and comparable sales, excluding Petroleum¹, were down 1.7%, reflecting a weaker consumer demand environment. At CTR, essential categories were up 1%, led by Automotive, and outpaced the 5% decline in discretionary categories.

Continued sell through of existing inventory, partially offset by investments in newer retail inventory ahead of 2025, resulted in year-end inventory down 5% compared to year-end 2023. 

Continue to strengthen the Owned Brands portfolio across our banners, growing and elevating our largest brands such as MotoMaster, which delivered double-digit growth in 2024. Since 2022, an additional three brands have achieved annual sales of over $100 million, taking the total to 17. Owned Brands continued to deliver a significant margin differential vis-à-vis National Brands. Customer attachment to these brands remains strong.