Canadian Tire Works on its Next Format

Article Excerpt

CANADIAN TIRE CORP. $84 (Toronto symbol CTC.A; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 81.5 million; Market cap: $6.8 billion; SI Rating: Above average) has enjoyed great success in the past few years with its Concept 20/20 stores, which feature wider aisles and a central customer service desk. The company is now modifying the Concept 20/20 format for smaller markets. It plans to bring forward an even newer format in 2009 to replace Concept 20/20. Canadian Tire is also building two pilot stores with full-sized Mark’s Work Wearhouse casual clothing stores inside them. Putting more clothing inside its regular stores should help Canadian Tire compete with Wal-Mart. Profits at Mark’s are rising, thanks to innovative new products, as well as growing sales of private label brands and women’s wear. Canadian Tire now aims to expand Mark’s, from 341 stores to 440 stores, by 2012. Canadian Tire is a buy. buy…

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