The Globe and Mail reports in its Saturday edition that Canadian Tire stock has slumped 28 per cent since July, reflecting the company's declining fortunes. The Globe's David Berman writes that Canadian Tire is now trading at levels seen five years ago. Last year, revenue fell 6.5 per cent. Fourth quarter revenue was down 16.8 per cent from the same period in 2022. Net profit shrank to $339.1-million in 2023, down from $1.18-billion in the previous year. Chief executive officer Greg Hicks says, "This past year was challenging, more so than we expected at the outset, given rising interest rates, stubborn inflation impacting discretionary spend and unfavourable weather." That last bit may have hit Canadian Tire harder than rivals, given its rows of skates, boots and snow blowers. For the most part, though, retailers have faced a difficult environment over the past year, as high inflation and rising borrowing costs have weighed on consumers. Canadian Tire has plenty of company as it navigates cautious consumers. That may be comforting: It suggests that it is not floundering with misguided direction or poor execution. Rather, it is facing a tough environment that may be largely reflected in the current share price.