In the first quarter ended April 3, Helly Hansen’s revenues increased by 12.2 percent to 136.3 million Canadian dollars (€92.8m-$112.1), growing at rou ghly thesame pace as in the fourth quarter of 2020 despite continuing store closures and restrictions on store operations because of the Covid-19 pandemic. Canadian Tire, which has owned Helly Hansen since 2018, saw revenues for its sporting goods retail business segment – which includes the largest Canadian retailer of sporting clothing and sports equipment, Sport Chek – rise by 7.1 percent from the previous year. Sport Chek’s retail sales were up by 10.0 percent, driven by strong sales in the second half of the quarter, led by cycling and other outdoor categories, footwear and kids clothing. Comparable store sales grew by 18.7 percent thanks to increased demand in categories relating to outdoor activities and home fitness. For the whole Canadian Tire group, revenues were up by 16.7 percent to CA$ 3,323.9 million (€2,262.5m-$2,733.0m), as e-commerce across all retail banners soared by 257 percent to C$450 million (€306.3m-$370.0m). The gross margin increased by 2.7 percentage points to 35.7 percent. The company posted net profit in the quarter of C$186.4 million (€126.9m-$153.3m), compared with a C$12.2 million profit in the first quarter of 2020.

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