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Canadian Tire is closing its 18 National Sports stores. Here’s where they’re positioned.

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Canadian Tire is closing its 18 National Sports stores. Here’s where they’re positioned.

Canadian Tire Corp. Ltd. says it’s closing all National Sports stores to decrease overlap in the corporate’s sporting items assortment after an interior review.

The decision to end all 18 of the retail stores all the intention thru southern Ontario came because the corporate reported its fourth-quarter profit and income both rose greatly in comparison with a year in the past.

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“This has been a piquant decision, in particular because of its impact on folks,” Gregory Craig, the corporate’s chief financial officer, advised traders on a convention call Thursday.

“We’re making every effort to set aside affected employees within our family of companies.”

The corporate operates a pair of brands including Canadian Tire, Label’s, SportChek, Environment, Sports Experts and Expert Hockey Existence.

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Greg Hicks, president and CEO of Canadian Tire Corp., advised traders that the corporate’s fourth-quarter results like been “nothing fast of extra special” and that its stout-year results like been solid regardless of the challenges of working one day of a virus.

Across the corporate’s banners, consolidated similar gross sales grew a “document breaking” 9.5 per cent in the fourth quarter while e-commerce gross sales grew 142 per cent, he acknowledged.

Canadian Tire identical-store gross sales grew 12.8 per cent, with seasonal gross sales related to Christmas up 41 per cent in the quarter, he acknowledged, while e-commerce gross sales surged 179 per cent.

“Whereas the principle two quarters of the year like been greatly impacted by the pandemic, the group drove excellent results,” Hicks acknowledged, noting that the corporate ended the year with “excellent operational and financial results.”

Aloof, the decision to end National Sports is a part of Canadian Tire’s scheme to develop efficiencies and care for core resources, he acknowledged.

“It’s a smaller banner for us, for distinct, however the decision to end the alternate is a topic of focus,” Hicks advised traders. “There’s consistently been a gorgeous amount of overlap with this banner and both SportCheck and (Canadian Tire).”


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As well to a density of bodily stores, he acknowledged there is an overlap between e-commerce capabilities as effectively.

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An review of the corporate’s portfolio as a part of its operational effectivity program with an “investor mindset” ended in the decision to end the stores, Hicks acknowledged.

“This became a alternate that became receiving barely ample capital for maintenance wants over time, and simply wasn’t a core asset for us,” he acknowledged, adding: “We simply couldn’t obtain a persisted reason.”

National Sports, which carries sports clothing, shoes and tool, became launched in 1968 as National Fitness center Garments Ltd., consistent with its web location. The corporate acknowledged stores will end between now and the finish of June.

In the intervening time, Canadian Tire acknowledged its bring collectively profits attributable to shareholders totalled $488.8 million or $7.97 per diluted fragment for the quarter ended Jan. 2.

The consequence became up from $334.1 million or $5.42 per diluted fragment in its fourth quarter a year earlier.


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Earnings became $4.87 billion, up from $4.32 billion. On an adjusted basis, Canadian Tire acknowledged it earned $8.40 per diluted fragment, up from $5.53 a year earlier.

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The corporate became expected to publish $6.69 per fragment in adjusted profits on $4.83 billion of revenues, consistent with financial data company Refinitiv.

Canadian Tire’s solid fourth-quarter results underscore the corporate’s “odd positioning for Canadian consumers,” Irene Nattel, an RBC Dominion Securities Inc. analyst, acknowledged in a present to potentialities.

For the stout-year, its bring collectively profits attributable to shareholders totalled $751.8 million or $12.31 per diluted fragment on $14.87 billion of revenues, in comparison with $778.4 million or $12.58 per fragment on $14.53 billion of revenues in 2019.

Here’s where the 18 National Sports stores would be found:

  • 353 Bayfield St. Barrie, Ont.
  • 539 Steeles Avenue E. Brampton, Ont.
  • 83-600 Hespeler Rd. Cambridge, Ont.
  • 2160 Hwy 7 W. Harmony, Ont.
  • 2921 Eglinton Ave. W. Mississauga, Ont.
  • 970 Upper Wentworth St. Hamilton, Ont.
  • 332 Wellington Rd. S. London, Ont.
  • 1735 Richmond St. London, Ont.
  • 1770 Dundas St. E. Mississauga, Ont.
  • 1111 Davis Dr. Newmarket, Ont.
  • 210 N. Carrier Rd. Oakville, Ont.
  • 4338 Innes Rd. Ottawa, Ont.
  • 81 George St. N. Peterborough, Ont.
  • 699 Kingston Rd. Pickering, Ont.
  • 1455 McCowan Rd. Scarborough, Ont.
  • 13580 Tecumseh Rd. E. Windsor, Ont.
  • 24 Forwell Creek Rd. Waterloo, Ont.
  • 3051 Legacy Park Dr. Windsor, Ont.

With recordsdata from World News

© 2021 The Canadian Press

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Canadian Tire is closing its 18 National Sports stores. Here’s where they’re positioned.