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Canadian Tire still a trooper in tough times
Posted on May 09, 2008
While analysts were disappointed in first quarter earnings at Canadian Tire Corp, which came in lower than expected, most retained their buy ratings on shares of the hardware and sporting goods retailer, saying it s still a good defensive retail stock in a weakening economy.They also brought up the question of whether Canadian Tire, a Canadian icon, is a consumer staples merchandiser or a discretionary retailer. RBC Markets analyst Irene Nattel says the first quarter results confirmed that it is a little of both, but leaning more towards the latter. Our takeaway is that it is more st...
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