Canadian Tire's Helly Hansen deal raises questions as it navigates a challenging retail landscape.
We do not plan a large change to our CAD 150 fair value estimate after no-moat Canadian Tire posted first-quarter results that leave our 2018 targets in reach (3% revenue growth and 50 basis points of adjusted EBITDA margin contraction versus our forecast of 4% and 60 basis points). Seasonally, the first quarter is smallest. Our long-term forecast--for low-single-digit revenue growth and 13% adjusted EBITDA margin on average for the next decade--is intact.Canadian Tire also announced it will bu...
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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