Canadian Tire unveils 3-year growth strategy

TORONTO — Canadian Tire Corporation says its going “on offence” with an aggressive three-year plan “to compete in rapidly changing retail environment.” The company intends to drive growth from its core businesses, including its retail banners and financial services. “We can unlock tremendous growth in our existing businesses,” said Michael Medline, president and incoming CEO of Canadian Tire.

That will include targeting the new generation of young families with children and will be reflected in product assortments, marketing, store layouts and investments in digital and online offerings. With these changes, CTC expects to realize annualized sales growth of at least 3% at Canadian Tire, 5% or more at Mark’s, and 9%-plus at FGL Sports.

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