February 13, 2020 / 11:08 AM / 13 days ago

Canadian Tire misses quarterly revenue estimates

Feb 13 (Reuters) - Diversified retailer Canadian Tire Corp Ltd missed quarterly revenue estimates on Thursday, hit by weak demand for electronics at its stores.

Net income rose to C$365.9 million ($275.94 million), or C$5.42 per share, in the fourth quarter ended Dec. 28, from C$278.2 million, or C$3.99 per share, a year earlier.

Revenue rose to C$4.32 billion from C$4.13 billion. Analysts on average were expecting the Toronto, Ontario-based company to post revenue of C$4.41 billion, according to IBES data from Refinitiv. ($1 = 1.3260 Canadian dollars) (Reporting by Praveen Paramasivam and Aditi Sebastian in Bengaluru; Editing by Subhranshu Sahu)

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