Canadian Tire to shutter National Sports

Canadian Tire Corp. said this week it is streamlining its banners with the closure of the regional National Sports chain. Founded in 1968 as National Gym Clothing Ltd., the banner offers sportswear and gear at 18 locations in southern Ontario.

“It’s a smaller banner for us, for sure, but the decision to close the business is a matter of focus,” Greg Hicks, Canadian Tire’s CEO and president, told investors on a conference call. “There’s always been a fair amount of overlap with this banner and both SportCheck and [the Canadian Tire banner].” The business, he added, “was receiving just enough capital for maintenance needs over the years and just wasn’t a core asset for us.”