Canadian Tire
From Wikipedia, the free encyclopedia
Canadian Tire (TSX: CTC CTC.a, CTC) is one of Canada's 35 largest publicly traded companies and operates an inter-related network of businesses engaged in retailing, financial services and petroleum. It operates Canadian Tire Retail, Canada's largest and most-shopped general merchandise retailer best known for its unique selection of home products, hardware, automotive, sports, camping, lawn and garden products. It also operates Canada's largest independent gasoline station network, a chartered bank in Canadian Tire Bank, and owns Mark's Work Wearhouse, a leading specialty apparel retailer of work and casual clothing, and PartSource, dealing exclusively with auto parts. Its head office is based 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.
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[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 opens up 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 460 stores. A publicly traded company on the Toronto Stock Exchange, Canadian Tire shares are widely held.
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%
Canadian Tire is also known for its community roots.[citation needed] Through its Canadian Tire Foundation for Families, Canadian Tire has raised more than $20 million for families in need. Through its JumpStart program, focused on helping disadvantaged kids get access to recreation and build self-esteem and leadership. More than 55,000 children have benefited across Canada.
[edit] Divisions
[edit] Canadian Tire Retail
Canadian Tire Stores are each operated by a Associate Dealer. The buildings and lands are owned by the Corporation, everything inside the building, from fixtures to product, is owned by the Associate Dealer. There are more than 455 stores across Canada. Canadian Tire Retail Stores offer customers a large selection of both national and retail brands under one roof. The majority of stores operate in three main categories of automotive parts, accessories and service; sports and leisure products; and home products.
Canadian Tire has converted many of its old and next generation stores, as well as built new stores, into new 20/20 stores since 2002. These new stores feature 20% more retail space as well a new setup that is easier to naviagte.
[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 the corporation.
[edit] Partsource Automotive Stores
PartSource is an automotive parts specialty chain, which has 47 stores across Canada. It was designed to meet the needs of major purchasers of automotive parts including professional automotive installers as well as serious do it yourself customers.
[edit] Financial Services
Canadian Tire Financial Services is the credit arm of the company. This division is considered 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 55 Simoniz car washes in Canada. In Ontario, Canadian Tire Petroleum also operates a network of 14 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 and Safeway.
CTP plans on rolling out new '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 325 stores across Canada including L'Equipeur stores in Quebec.
[edit] Facts and Figures
- Kingston, Ontario is home to Canada's largest Canadian Tire Store. This is also, coincidentally enough, the hometown of Ted Simonett, who played the male half of the "Canadian Tire couple" in the company's TV spots.
- Canadian Tire has twice expanded into the US market with disastrous results. In the 1980s the White Auto Store chain, concentrated in Texas was acquired and cost the company $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 midwest was started. The Auto Source chain was sold costing the company a reported $80.6 million.
- Canadian Tire is also colloquially referred to as Crappy Tire. The corporation lost in a legal action to acquire the CrappyTire.com domain name at WIPO.
- The name of the character on the Canadian Tire Money is Sandy McTire.
[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. Customers using Canadian Tire's Options Mastercard for their purchases also receive an additional 20% Canadian Tire money, in electronic form, on the card.
[edit] Advertisments
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 the 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"
- 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
- Summer 2006: "Canadian Tire, for all your Canadian needs!"
[edit] References
- ^ 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.
[edit] See also
- Canadian Tire Financial Services
- Motomaster
- List of Canadian department stores
- NASCAR Canadian Tire Series
[edit] External links
- Official website
- Canadian Tire Currency -- Canadian Tire Currency Picture Catalog Index, 1958-2003 Issues
- crappytire.com decision
