Canadian Tire announces strategic investment

Canadian Tire Corp. has announced it will invest $3.4 billion over the next four years “to deliver an improved omnichannel customer experience.” The company’s strategic growth plan includes an expansion of its private-label offerings. It also calls for a threefold increase in the Helly Hansen banner’s business.

“We have clearly laid out our strategic growth plan, and we firmly believe that investments targeting organic growth in the right places represent the best use of capital,” EVP and CFO Gregory Craig said in announcing the project at the company’s Investor Day.