“Macroeconomically, increased cost of living combined with higher interest rates has created a period of hesitation among Canadian consumers,” Greg Hicks said on the company’s first-quarter earnings call Thursday. (The Logic)

Talking point: Hicks himself described on the call how the retail giant “often acts as a barometer for the Canadian economy overall.” The company reported that quarterly revenue fell 4.9 per cent to $3.5 billion amid generally softer spending and as fewer customers bought snow-sports gear at SportChek during a warm winter. Net income rose to $96 million, up from $42.8 million the same period last year, as the company revamped its supply chain, cut costs and rebounded from a fire at its distribution centre last year. Hicks said that he expects more stability after a period of “turbulence” in the first three months of the year. The company remains “vigilant” tracking the economy amid indicators pointing to slower growth and potential interest rate adjustments, Hicks said.