Canadian Tire Corporation, Limited is a prominent Canadian retail company operating in the automotive, hardware, sports, leisure, and housewares sectors. Founded in 1922 by Alfred Jackson Billes and John William Billes, the company has grown into one of Canada's most recognized and trusted brands.
Key Facts:
- Headquarters: Toronto, Ontario, Canada.
- Revenue: Approximately CA$17.81 billion (2022).
- Employees: Around 58,000.
Retail Operations:
Canadian Tire's retail operations encompass a diverse range of products and services, including:
- Automotive Parts and Services: Offering a comprehensive selection of automotive products and maintenance services.
- Home and Garden: Providing tools, hardware, and home improvement supplies.
- Sports and Leisure: Featuring equipment and apparel for various sports and recreational activities.
- Apparel and Workwear: Through its subsidiary, Mark's, offering clothing and footwear for work and casual wear.
Subsidiaries and Brands:
Canadian Tire operates several subsidiaries and brands, including:
- PartSource: Specializing in automotive parts and accessories.
- Sport Chek: A leading retailer of sporting goods and apparel.
- Mark's: Focusing on men's and women's apparel and footwear.
- Helly Hansen: An international brand known for high-performance outdoor gear.
Financial Services:
The company also offers financial services through Canadian Tire Bank, providing products such as:
- Triangle™ Mastercard®: A credit card offering rewards on purchases.
- Triangle Rewards Program: A loyalty program allowing customers to earn and redeem Canadian Tire Money®.
Recent Developments:
In the first quarter of 2024, Canadian Tire reported a net income of CA$96 million, up from CA$42.8 million in the same period the previous year. Despite a decline in revenue to CA$3.52 billion from CA$3.71 billion, the company achieved higher profit margins, with a retail gross margin rate increase of 193 basis points to 37.1%.
Canadian Tire continues to be a cornerstone of Canadian retail, offering a wide array of products and services that cater to the diverse needs of consumers across the country.
