Canadian Tire
From Wikipedia, the free encyclopedia
| Canadian Tire Corporation, Limited | |
|---|---|
 |
|
| Type | Public |
| Founded | 1922 |
| Headquarters |  Toronto, Ontario, Canada |
| Key people | Alfred J. Billes (co-founder) J. William Billes (co-founder) |
| Industry | Retail |
| Products | Automotive, Sports and Leisure, and Home Products |
| Employees | 45,000 |
| Website | Official Website (English version) Official Website (French version) |
Canadian Tire Corporation, Limited (TSX: CTC) is one of Canada's 35 largest publicly traded companies and operates an inter-related network of businesses engaged in retailing (hardgoods, apparel and petroleum) and services (financial and automotive). It operates Canadian Tire Retail, Canada's largest and most-shopped general merchandise retailer best known for its unique selection of home products, hardware and tools, automotive, sports, camping, lawn and garden products. It also operates Canada's largest independent gasoline station network and a chartered bank in Canadian Tire Bank, and it owns Mark's Work Wearhouse, a leading specialty apparel retailer of work and casual clothing, and PartSource, retailing auto parts and accessories. Its head office is in Toronto, Ontario.
The chain is also known for its Canadian Tire "money" which is a pioneering loyalty program first introduced in 1958. It is also known for its innovative advertising.
Contents |
[edit] History
The first Canadian Tire store opened on September 15, 1922 in Toronto, Ontario by J. William Billes and Alfred J. Billes. This store, which was located at the corner of Yonge and Isabella, bought Hamilton Tire and Garage Ltd. in Toronto's east end with combined savings of $1,800.[1] In 1934, the first official associate store opened in Hamilton, Ontario.[2] In 1937, the store and head office was moved to Yonge St. and Church St. This location remains as an associate store in the chain today. In 1928, the store issued its first catalogue, becoming one of Canada's most famous mail order businesses. To this day, the company has grown to over 465 stores. A publicly traded company on the Toronto Stock Exchange, Canadian Tire shares are widely held.
Canadian Tire Corporation has tried on two occasions to expand into the US market. In the 1980s the White Auto Store chain, concentrated in Texas was acquired and cost Canadian Tire $200 million to fold. In the 1991 a second attempt with the Auto Source chain with grand plans of 100 to 120 outlets in the US Midwest was started. The Auto Source chain was sold costing the company a reported $80.6 million.
Canadian Tire has experienced a period of significant growth and success, having transformed its store network in three major waves beginning in 1994. In its last five-year strategic plan it attained top-quartile total returns to shareholders among all publicly traded North American retailers, with a total return of 286%.
[edit] Store brands
Certain merchandise items are branded specifically for Canadian Tire. The most recognized of these are Mastercraft (tools), SuperCycle (bicycles) and Motomaster (tires, batteries and other automotive goods).
[edit] Divisions
[edit] Canadian Tire Retail
As Canada's largest retailer, it is said that 85 percent of all Canadians live within a 15-minute drive of a Canadian Tire store; that nine out of ten adult Canadians shop at one at least twice a year; and that 40 percent of Canadians shop at Canadian Tire every week.[3] There are more than 450 stores across Canada. Canadian Tire Stores are each operated by an associate dealer. The buildings and lands are owned or leased by the company and everything inside the building, from fixtures to merchandise, is owned by the dealer. The majority of stores operate in distinct categories of automotive parts, automotive service, tools and hardware, sporting goods, housewares, and seasonal.
Since 2003 Canadian Tire has converted many of its old traditional and new-format stores, as well as built new stores, into its new "Concept 20/20" format. These stores feature more retail space as well a new setup that is easier to navigate. Some smaller stores have been closed. Currently, the largest Canadian Tire store is located in Dartmouth, Nova Scotia at Dartmouth Crossing. It incorporates a Marks Work Warehouse (owned by Canadian Tire) within its doors.
[edit] Online Store
Canadian Tire Online is an online purchasing system where customers of Canadian Tire can choose to either provide a representative with their billing and shipping information over the phone and then have the goods selected delivered to their home via mail or courier service. Customers also have the option to place the order themselves on the Canadian Tire website. While revenue from store purchases go primarily to the dealer, the revenue from online and telephone shopping goes directly to Canadian Tire Corporation.
[edit] Partsource Automotive Stores
PartSource is an automotive parts and accessories specialty chain, which has 70 stores in Ontario and Western Canada. It was designed to meet the needs of major purchasers of automotive parts including commercial automotive installers as well as serious do it yourself customers. While many people are aware of the Canadian Tire/PartSource affiliation, many are unaware that the individual stores are not affiliated. While Canadian Tire Retail stores are Associate Dealer operated, PartSource stores are a mix of franchisee and Canadian Tire Corporation operated.
[edit] Financial Services
Canadian Tire Financial Services is the credit arm of the company. This division operates a bank, under Canada's Bank Act. Since achieving the bank designation, Canadian Tire Financial Services has launched additional credit and loan products including Personal Loans and Lines of Credit. Its primarily business is branded credit cards, that give customers a choice of payment options, as well as extra Canadian Tire Money. CTFS also markets a variety of insurance and warranty products, and operates an emergency roadside service. The division also manages the Canadian Tire 'Money' On the Card loyalty program to credit card customers.
[edit] Canadian Tire Petroleum
Launched in 1958, Canadian Tire Petroleum is Canada's largest independent retailer of gasoline. It has more than 260 locations as well as more than 70 Simoniz car washes in Canada. In Ontario, Canadian Tire Petroleum also operates a network of 13 Pit Stop locations offering customers a variety of automotive services including oil changes, rust check and other services. Canadian Tire's famous "Canadian Tire Money" loyalty program was launched through the gas bars as "Gas Bonus Coupons". The program proved so popular that it was later expanded to the entire enterprise.
Canadian Tire was the world's first hard goods retailer to begin selling gasoline at their stores as a means of driving customer traffic. This model has since been copied by most of the world's top hard goods retailers, including Wal Mart, Home Depot, Real Canadian Superstore/Loblaw's, and Safeway.
CTP has opened 3 'Q' stop stores featuring a mini-grocery store as well as other items.
[edit] Mark's Work Wearhouse
Mark's Work Wearhouse has become Canada's largest supplier of unisex apparel. It offers an extensive collection of business casual, weekend and work wear clothing and accessories for men and women. Mark's Work Wearhouse operates more than 340 stores across Canada including L'Equipeur stores in Quebec.
[edit] Marketing
[edit] Canadian Tire Money
Canadian Tire "money" distinguishes the company from other retailers in Canada. These coupons, an incentive for non-credit purchases, are a national cultural fixture and feature the fictional character Sandy McTire on every bill. Customers using Canadian Tire's Options Mastercard for their purchases also received an additional 20% Canadian Tire money, in electronic form, on the card.
The 20% bonus was discontinued in July 2006.
[edit] Advertisements
For many years, Canadian Tire's Christmas ads featured Santa Claus and Ebenezer Scrooge arguing about whether Canadian Tire's great selection or their low prices are the better reason to do your Christmas shopping there, with the tagline "Give like Santa, save like Scrooge". A stamp was issued by Canada Post commemorating Canadian Tire's 75th anniversary which depicted the famous ad of a boy receiving his first bicycle which was purchased by his father at Canadian Tire.
In recent years, the company's ads have featured the "Canadian Tire couple". The male role was played by Canadian actor Ted Simonett, and Gloria Slade played the female role. They are usually showing off a new product to one of their neighbours, who are in need of a certain tool. The 'Canadian Tire Couple' were once featured on Royal Canadian Air Farce as one of their targets of the year, as "Canada's most annoying couple". Ads featuring the couple were phased out in mid-2006.
The Company is one of Canada's largest advertisers, and has nearly universal unaided brand awareness.
[edit] Slogans
- 1970s: "It's for people like you"
- 1980s: "There is a lot more to Canadian Tire than tires"
- 1992: "There is a lot more for a lot less"
- 1997: "Canadian Tire, still the right place"
- 2001: "I'll start with you" (Originally from a song released as a solo in 1992 by Paulette Carlson, the lead singer of country group Highway 101)
- Various Christmas seasons: "Give like Santa, save like Scrooge" "Scrooge Approved prices"
- 2006: Let's Get Started
[edit] References
 |
This article needs additional citations for verification. Please help improve this article by adding reliable references. Unsourced material may be challenged and removed. (August 2007) |
- ^ Canadian Tire: Our Story (Official Web site). Retrieved on 2007-01-29.
- ^ The Hamilton Spectator- Souvenir Edition page MP38 (Saturday June 10, 2006). "The Hamilton Memory Project;". Press release. Retrieved on 2007-01-29.
- ^ Reference For Business
[edit] See also
[edit] External links
- Official website
- Canadian Tire Currency -- Canadian Tire Currency Picture Catalog Index, 1958-2003 Issues
