When would be the quarter of full covid

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Hi,
Maybe It’s because I’m from québec and french is my first language but I got trouble with your last sentence.
You recommend to wait until a quarter of full COVID :
*we’d strongly suggest averaging in and waiting until a quarter of full COVID-19 headwinds are released. *
When whould that be ?
Is it a fix date or first report of CTC.A?

Thanks for your help

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Asked on August 11, 2020 7:14 pm
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Private answer

Hi there,

If you are referring to our custom report on CTC - you will see it was last updated on June 30. We don't review these on a quarterly basis unless specifically asked.

I regards to that sentence, the full impacts were felt by CTC in the quarter that was just released (Q2) on August 9th. It posted a net loss of $0.25 per share on revenue of $3.16 billion. Revenue dropped by 14.4% YOY and earnings missed estimates by $0.15. It was a rough quarter, as expected.

The good news is that this should be the worst quarter - assuming we have no second wave. Despite a bad quarter, it vastly improved its digital offerings and ecommerce grew by 400%. Likewise, although SportCheck and Mark's dropped, Canadian Tire retail locations actually grew revenue by 1.4%. It's resiliency of the flagship brand is a very good sign. It also exited the quarter in strong financial position with $2.3 billion in cash.

Mat

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Posted by Mathieu Litalien
Answered on August 12, 2020 4:32 am