Topic: How To Invest

The Successful Investor Hotline – Friday, August 9, 2019

Article Excerpt

CANADIAN TIRE CORP., $136.90, Toronto symbol CTC.A, owns 504 Canadian Tire stores. They sell automotive parts and products, and household and sporting goods. Franchisees run most of the outlets. The company’s other operations include 295 gas stations and 102 PartSource locations; those stores are entirely focused on automobile supplies. In the past few years, the company has acquired other major retail chains: Mark’s sells casual and work clothing through 380 stores; and the Sport Chek Group sells sporting goods and athletic wear through 402 outlets, including Sport Chek and Sports Experts. This week, the company agreed to buy the 65 Canadian outlets of U.S.-based Party City Holdco Inc. (New York symbol PRTY) for $174.4 million. Those stores sell a wide variety of party supplies such as balloons, decorations and paper plates. The company should complete the purchase in the third quarter of 2019. Meantime, Canadian Tire’s overall sales in the second quarter of 2019 rose 5.9%, to $3.69 billion from $3.48 billion a..

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