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Canadian Tire
Canadian Tire

Retail / Retail and Automotive Services

At a Glance | Core Facts | Company | Industry | Competitors | Stock Swings | News | Income | Balance | Cash Flow | Growth | Enterprise | Ratios | Metrics | Dividends | Risks | SWOT | Porter's Five Forces | PEST | Score Positive | Clusters | Reports | Web
Overview
Canadian Tire is a Canadian retail company that sells a wide range of automotive, home, leisure, and sports products. The company was founded in 1922 by two brothers, John William and Alfred Jackson Billes, who opened the first store in Hamilton, Ontario. Today, Canadian Tire has over 1,700 retail locations across Canada, including Canadian Tire stores, gasoline outlets, Mark's Work Wearhouse clothing stores, and FGL Sports footwear and sports equipment stores.
Products and Services
Canadian Tire offers a variety of products in its stores, including automotive parts and accessories, tools and hardware, home and kitchen appliances, home decor and furnishings, outdoor and gardening equipment, sporting goods and equipment, and toys and games. The company also offers various services such as car repair and maintenance, car wash, and car rental through its subsidiary companies, Canadian Tire Gas+, and Canadian Tire Financial Services. Canadian Tire also has a loyalty program called Canadian Tire Money, where customers earn points on purchases that can be redeemed for discounts or merchandise.
Community involvement and sponsorships
Canadian Tire is known for its involvement in the community and support for various charitable organizations and initiatives. The company has a long history of supporting youth and amateur sports in Canada through its sponsorship of national and grassroots teams, as well as major sporting events like the Olympic Games. Canadian Tire also has partnerships with organizations such as Boys and Girls Clubs of Canada and Jumpstart Charities, which help children and youth in need participate in sports and physical activities.
Environmental and sustainability initiatives
Canadian Tire has implemented several initiatives to reduce its environmental impact and promote sustainability. The company has committed to reducing its carbon emissions and waste generation, as well as increasing its use of renewable energy sources and promoting sustainable product lines. Canadian Tire is also a member of the Sustainable Packaging Coalition and has implemented a Sustainable Packaging Education Program to encourage its suppliers to adopt sustainable packaging practices.
Online shopping and digital presence
Canadian Tire has a strong online presence, with a fully integrated online shopping platform that allows customers to browse and purchase products from the comfort of their own homes. The company also has a mobile app that offers features such as digital flyers, personalized offers, and in-store inventory check. Canadian Tire also has a strong social media presence, with active accounts on platforms like Facebook, Twitter, and Instagram, where they share product updates, promotions, and engage with customers.
Corporate social responsibility
Canadian Tire is committed to operating with integrity and ethical business practices. The company has a Code of Business Conduct and Ethics that outlines its expectations for employees, suppliers, and business partners to act with honesty, fairness, and respect. Canadian Tire also prioritizes diversity and inclusion in its workplace and partners with diverse suppliers and businesses. Additionally, the company has a strong focus on health and safety in its operations and has implemented various initiatives to ensure the well-being of its employees and customers.
What is special about the company?
Canadian Tire is a unique retail company in Canada that offers a wide range of products and services. Some of the reasons that make Canadian Tire special include:
1. Long History: Canadian Tire was founded in 1922 and has a long history of serving Canadian customers. It is a well-established and trusted brand in the country.
2. Diverse Product Range: Canadian Tire offers a diverse range of products under one roof, including home and garden essentials, sports and fitness equipment, automotive and tools, and household and pet supplies.
3. Canadian Brand: Canadian Tire is a Canadian-owned and operated company, and its products are designed and manufactured specifically for the Canadian market.
4. Trusted Quality: Canadian Tire is known for its high-quality products, and its private labels, such as Mastercraft, Motomaster, and SuperCycle, are highly trusted by customers.
5. Canadian Tire Money: Canadian Tire has its own currency called Canadian Tire Money, which customers can earn and redeem at Canadian Tire stores.
6. Community Involvement: Canadian Tire is actively involved in the community through various initiatives, such as Jumpstart, which helps children from low-income families participate in sports and physical activities.
7. Retail Innovations: Canadian Tire is known for its innovative retail concepts, such as the introduction of the first self-serve gas stations in Canada and the launch of its loyalty program, Triangle Rewards.
8. Multi-Channel Shopping: Canadian Tire offers a seamless multi-channel shopping experience to its customers, with options to shop in-store, online, or through its mobile app.
9. Sustainability Initiatives: Canadian Tire is committed to reducing its environmental impact and has implemented various sustainability initiatives, such as recycling programs and the use of renewable energy sources.
10. Employee Development: Canadian Tire values its employees and has various training and development programs to help them grow and succeed within the company.
What the company's business model?
Canadian Tire is a retail company with a diversified business model that encompasses three main lines of business: retail, financial services, and financial services.
1. Retail business: Canadian Tire operates a network of retail stores, including Canadian Tire stores, which sell automotive, hardware, home and leisure products, sporting goods, and apparel. Other retail banners under the company's umbrella include Canadian Tire Gas+, Mark's/L'Équipeur, and PartSource stores.
2. Financial services: The company offers a range of financial services, including financing, insurance, and credit card services, through its financial services division, Canadian Tire Financial Services (CTFS). This division provides customers with loyalty reward programs and branded credit cards that can be used at any of the company's retail locations.
3. Real estate business: Canadian Tire also has a real estate arm, CT REIT, which owns, develops, and manages properties used for its retail, automotive, and other operations. This includes Canadian Tire stores, Mark's/L'Équipeur stores, and PartSource stores, as well as associated properties such as gas stations, car washes, and distribution centers.
The company's business model is based on a strong brand presence, a diverse product and service offering, and an integrated retail and financial services approach. This allows them to meet the needs of a wide range of customers and create loyalty through various incentives and rewards programs. Additionally, their investment in real estate assets helps to create a stable and reliable source of income.
Interesting facts about the company
1. Canadian Tire was founded in 1922 by two brothers, John W. and Alfred J. Billes, in Toronto, Canada.
2. The original store was a small garage that sold auto parts, tires, and accessories, and was named The Canadian Tire Corporation, Limited.
3. The company’s iconic red triangle logo was inspired by the Canadian maple leaf.
4. The first Canadian Tire catalog was launched in 1928, featuring products such as auto parts, fishing tackle, bicycles, and stoves.
5. Today, Canadian Tire is one of Canada’s largest retail chains, with over 1,700 stores across the country.
6. In addition to its retail stores, Canadian Tire also owns and operates other brands, including SportChek, Mark’s, and PartSource.
7. The company’s loyalty program, Canadian Tire Money, was first introduced in 1958 and has become a beloved Canadian icon.
8. Canadian Tire has a long history of supporting Canadian athletes and sports teams, including sponsoring the Toronto Maple Leafs and the Canadian Olympic team.
9. In 1995, Canadian Tire became the first retailer in North America to introduce a self-checkout system.
10. The company also has a strong commitment to sustainability and has implemented various initiatives, such as a recycling program for old tires, energy efficient stores, and reducing packaging waste.
11. Canadian Tire has expanded beyond its traditional automotive and hardware roots and now sells a wide range of products including home goods, outdoor gear, and even mattresses.
12. The company’s annual Bumper to Bumper charity car show, which features vintage cars and raises money for cancer research, has been running for over 40 years.
13. Canadian Tire has a history of sponsoring community events and initiatives, including the Jumpstart program which helps economically disadvantaged children participate in sports and recreational activities.
14. In 2019, Canadian Tire ranked first on the Forbes list of Canada’s Best Employers.
15. The company’s slogan, Canada’s store, reflects its commitment to being a trusted and reliable retailer for Canadian consumers.
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