Still a Portfolio Mainstay

Article Excerpt

When Wal-Mart and other big American retailers began moving into Canada in the 1990s, many Canadians assumed the worst for Canadian retail stocks. In the fall of 2000, in fact, some investors zeroed in on Canadian Tire as a tax-loss selling candidate. They dumped the stock at barely a quarter of current prices. We stuck with Canadian Tire and advised buying more, because we had a high opinion of the steps it was taking to counter this threat. Canadian Tire has since held on to its market share, and enjoyed huge gains in its profits and stock price. The company is still coming up with innovative ways to grow and keep costs down. We still see it as a top choice for conservative investors. CANADIAN TIRE CORP., LTD. $69 (Toronto symbol CTR.NV; SI Rating: Above average) is best known for its 459 Canadian Tire retail stores, which carry a unique mix of automotive, home improvement and sporting goods. The company also sells its…

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