North America continued to show revenue growth compared with 2011, driven by price gains and favorable mix. The retail channels reported higher results during the quarter, with price gains and currency effects offsetting the volume decline. Stores in Canada posted another strong quarter, with revenue up 6 percent. Revenue at our US stores was higher due to pricing actions and customer segmentation strategies, despite the negative impact of lower volumes. Our US operations were profitable at the EBITDA level in Q3. The business is continuing to benefit from restructuring efforts and production optimization.
Latin America’s revenue was lower than last year due to the pressure of declining volumes and negative currency effects, which offset the positive price impact. The general economic slowdown in the region continues to negatively affect our volumes.