Although Its Omnichannel Offering Is Improving, Canadian Tire Still Faces Intense Competition
Our CAD 143 fair value estimate for no-moat Canadian Tire should not change much after first-quarter results. We also do not anticipate altering our long-term outlook (low- to mid-single-digit revenue growth and low-double-digit adjusted EBITDA margin on average for the next 10 years).Canadian Tire saw 3% first-quarter revenue growth against 109 basis points of adjusted EBITDA margin contraction (to 12.5%, excluding fuel and the impact of new lease accounting standards). While we anticipate bet...
Canadian Tire Corporation comprises three main business operations, which provides a range of retail goods and services. Co.'s three main business operations are: Retail, which is conducted through a number of banners, including Canadian Tire, Canadian Tire Gas (Petroleum), Mark's, PartSource, and various FGL Sports banners; CT REIT, which is a real estate investment trust engaged in owning, developing and leasing commercial properties; as well as Financial Services, which markets a range of Canadian Tire-branded credit cards, insurance and warranty products and processes credit card transactions with respect to purchases made in Canadian Tire associate stores and Petroleum outlets.
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