The Globe and Mail reports in its Thursday, Feb. 20, edition that Canadian Tire will sell Helly Hansen for nearly $1.3-billion to Kontoor Brands, the U.S. owner of Lee and Wrangler. The Globe's Susan Krashinsky Robertson writes that this decision comes as Canadian Tire aims to reinvest in its Canadian retail business amid market uncertainty. Canadian Tire originally acquired Helly Hansen from the Ontario Teachers' Pension Plan six years ago for $985-million. The company intends to use the sale proceeds to reduce debt, buy back shares and invest in retail stores. The money also provides Canadian Tire with added flexibility for general corporate needs and to navigate market uncertainty. Canadian Tire's chief executive officer was vocal about that uncertainty last week, saying that U.S. President Donald Trump's threats to impose widespread tariffs on Canadian imports have "substantially erased" any nascent signs of improving consumer sentiment in this country. Under Canadian Tire's leadership, Helly Hansen has significantly increased sales and profits. At the time of the acquisition in 2018, the brand generated $500-million in annual revenue and $50-million in earnings before interest, tax, depreciation and amortization.