16:55:04 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Canadian Tire Corp Ltd
Symbol CTC
Shares Issued 3,423,366
Close 2017-04-24 C$ 204.95
Market Cap C$ 701,618,862
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Van Sun says Canadian Tire pushes home reno market

2017-04-24 07:07 ET - In the News

The Vancouver Sun reports in its Friday edition that Canadian Tire has its sights set on Canada's booming home renovation market, and plans to relaunch its in-house paint line, Premier. Postmedia's Hollie Shaw writes that the country's biggest seller of sporting goods, automotive and kitchen items has spent the last five years conducting a category-by-category overhaul of its private-label merchandise. In an era when the "Internet of things" leads many consumers to shop and browse on-line for commodity items based on price alone, having strong in-house retail brands can help businesses safeguard customer loyalty. "Wherever we can bring the best of our own business to the market -- our own formulation, our own source -- it gives us a unique ability to create our own identity," said Allan MacDonald, president of Canadian Tire's retail division. "There was a time in our history when Canadian Tire was quite a formidable force in the paint business, and over the course of time with other priorities and new competitors in the market, it has been a business that we have allowed to not keep pace with the rest of our assortment." Canadian Tire introduced or reformulated over 30 in-house brands in the past five years.

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