Dominion Lending Centres Clearlease Reports Canadian Tire (TSX:CTC.A) Rona (TSX:RON) The Brick (TSX:BRK) and Leon’s (TSX:LNF)
VANCOUVER, BC – (May 12, 2011) Clearlease Reports Canadian Tire Corp. (TSX:CTC.A) will start selling large appliances and will install interactive autoparts kiosks as it continues to sell a more diverse range of products in an increasingly competitive retail market.
The company, which reported a 13.3 per cent jump in first quarter profits Thursday, said it wants to sell large appliances such as stoves or dishwashers by the end of next year as it beefs up the product assortment at its living aisles— which include kitchens, storage, home decor, and cleaning.
Canadian Tire has tested large appliances in some stores and receives feedback from thousands of customers who answer surveys printed on store receipts.
“The test has proven to be very successful,” Mike Arnett, the company’s president of retail said after the company’s annual shareholder meeting Thursday.
“I think it adds to our credibility and it also leverages the strength and credibility that we already have in the smaller kitchen appliances where we have market leadership, so it’s not that big a stretch.”
The move will put Canadian Tire in competition with retailers such as home-improvement retailers Home Depot, Lowes, and Rona (TSX:RON), The Bay and Sears department stores and furniture stores owned by The Brick (TSX:BRK) and Leon’s (TSX:LNF).
Selling appliances is just one of the ways Canadian Tire is diversifying its product offerings. Earlier this week, it made a $771 million bid to buy the Forzani Group (TSX:FGL), which runs 500 Sport Chek, Athletes World, and other sportswear and equipment stores in malls across the country.
The company said it wants Forzani to gain access to mall-based, urban and younger shoppers who go to those stores for clothing and sports equipment.
Canadian Tire has also been testing new store layouts that highlight its automotive section, and plans to roll out the model to all its stores by the end of the year. It has already trained 4,000 employees to become experts in tire sales, and plans to introduce interactive store kiosks that allow customers to type in their car model and see which tires are right for them.
Customers will also be able to purchase tires online and have them waiting at the store when they arrive.
The company is diversifying its product offering at the same time that the Canadian retail landscape grows more competitive as American retailers expand in Canada.
Experts have said American chains are looking to Canada because they can’t grow further in the U.S., and want to try out international expansion without the risks of heading to very different markets like Europe or Asia.
With Canadian consumer confidence expected to boom once again in 2012, U.S. retailers are looking north now to prepare for when Canadians are ready to open their wallets.
They include general merchandiser Target, which will open up Canadian shops in 2013, and Walmart, which is spending $500 million this year to open 40 more Canadian stores that combine general merchandise and groceries. Several U.S. clothing retailers like Marshalls and Victoria’s Secret have launched their first Canadian locations in the last few months.
Canadian Tire saw first-quarter profits rise 13.3 per cent to $58.4 million in what the automotive, outdoor gear, home improvement and sporting goods retailer described as a somewhat disappointing period, thanks to inclement weather.
The Toronto-based company said its earnings amounted to 71 cents per share, up from $51.6 million or 63 cents per share in the same period a year earlier. Analysts polled by Thomson Reuters had predicted average earnings per share of 72 cents.
Canadian Tire said its retail sales were up 3.7 per cent, and consolidated revenues grew 4.6 per cent, adding it was happy with revenues in its automotive, apparel, and financial services divisions which met expectations.
It said unseasonably cold weather in March and continuing into April reduced customer traffic and sales in seasonal products.
The retailer has undergone major overhaul both in its executive suite and as the result of shifting its separate units under one corporate umbrella to eliminate duplicate costs.
That overhaul came just months after the company announced it was refocusing on its core automotive and retail businesses instead of other divisions like financial services and clothing sales at Mark’s Work Wearhouse.
Part of that strategy was to update its store design, transforming layouts into “smart stores” — which direct customers more easily and highlight the automotive division.
Canadian Tire’s automotive sales had previously been hit by weaker consumer demand, more competition and a deteriorating reputation in a business that once built the brand.
It has also announced “Work Wearhouse” will be dropped from the Mark’s brand as the store sells more casual clothing and steers away from its historical industrial clothing focus.
Canadian Tire employs more than 58,000 people with 485 stores across the country.
Shares in Canadian Tire were up $1.05 to $62.36 in midday trading on the Toronto Stock Exchange.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
VANCOUVER, BC – (May 12, 2011) Clearlease Reports Canadian Tire Corp. (TSX:CTC.A) will start selling large appliances and will install interactive autoparts kiosks as it continues to sell a more diverse range of products in an increasingly competitive retail market.
The company, which reported a 13.3 per cent jump in first quarter profits Thursday, said it wants to sell large appliances such as stoves or dishwashers by the end of next year as it beefs up the product assortment at its living aisles— which include kitchens, storage, home decor, and cleaning.
Canadian Tire has tested large appliances in some stores and receives feedback from thousands of customers who answer surveys printed on store receipts.
“The test has proven to be very successful,” Mike Arnett, the company’s president of retail said after the company’s annual shareholder meeting Thursday.
“I think it adds to our credibility and it also leverages the strength and credibility that we already have in the smaller kitchen appliances where we have market leadership, so it’s not that big a stretch.”
The move will put Canadian Tire in competition with retailers such as home-improvement retailers Home Depot, Lowes, and Rona (TSX:RON), The Bay and Sears department stores and furniture stores owned by The Brick (TSX:BRK) and Leon’s (TSX:LNF).
Selling appliances is just one of the ways Canadian Tire is diversifying its product offerings. Earlier this week, it made a $771 million bid to buy the Forzani Group (TSX:FGL), which runs 500 Sport Chek, Athletes World, and other sportswear and equipment stores in malls across the country.
The company said it wants Forzani to gain access to mall-based, urban and younger shoppers who go to those stores for clothing and sports equipment.
Canadian Tire has also been testing new store layouts that highlight its automotive section, and plans to roll out the model to all its stores by the end of the year. It has already trained 4,000 employees to become experts in tire sales, and plans to introduce interactive store kiosks that allow customers to type in their car model and see which tires are right for them.
Customers will also be able to purchase tires online and have them waiting at the store when they arrive.
The company is diversifying its product offering at the same time that the Canadian retail landscape grows more competitive as American retailers expand in Canada.
Experts have said American chains are looking to Canada because they can’t grow further in the U.S., and want to try out international expansion without the risks of heading to very different markets like Europe or Asia.
With Canadian consumer confidence expected to boom once again in 2012, U.S. retailers are looking north now to prepare for when Canadians are ready to open their wallets.
They include general merchandiser Target, which will open up Canadian shops in 2013, and Walmart, which is spending $500 million this year to open 40 more Canadian stores that combine general merchandise and groceries. Several U.S. clothing retailers like Marshalls and Victoria’s Secret have launched their first Canadian locations in the last few months.
Canadian Tire saw first-quarter profits rise 13.3 per cent to $58.4 million in what the automotive, outdoor gear, home improvement and sporting goods retailer described as a somewhat disappointing period, thanks to inclement weather.
The Toronto-based company said its earnings amounted to 71 cents per share, up from $51.6 million or 63 cents per share in the same period a year earlier. Analysts polled by Thomson Reuters had predicted average earnings per share of 72 cents.
Canadian Tire said its retail sales were up 3.7 per cent, and consolidated revenues grew 4.6 per cent, adding it was happy with revenues in its automotive, apparel, and financial services divisions which met expectations.
It said unseasonably cold weather in March and continuing into April reduced customer traffic and sales in seasonal products.
The retailer has undergone major overhaul both in its executive suite and as the result of shifting its separate units under one corporate umbrella to eliminate duplicate costs.
That overhaul came just months after the company announced it was refocusing on its core automotive and retail businesses instead of other divisions like financial services and clothing sales at Mark’s Work Wearhouse.
Part of that strategy was to update its store design, transforming layouts into “smart stores” — which direct customers more easily and highlight the automotive division.
Canadian Tire’s automotive sales had previously been hit by weaker consumer demand, more competition and a deteriorating reputation in a business that once built the brand.
It has also announced “Work Wearhouse” will be dropped from the Mark’s brand as the store sells more casual clothing and steers away from its historical industrial clothing focus.
Canadian Tire employs more than 58,000 people with 485 stores across the country.
Shares in Canadian Tire were up $1.05 to $62.36 in midday trading on the Toronto Stock Exchange.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
Dominion Lending Centres Clearlease Reports Canadian Tire (TSX:CTC.A) Rona (TSX:RON) The Brick (TSX:BRK) and Leon’s (TSX:LNF)
VANCOUVER, BC – (May 12, 2011) Clearlease Reports Canadian Tire Corp. (TSX:CTC.A) will start selling large appliances and will install interactive autoparts kiosks as it continues to sell a more diverse range of products in an increasingly competitive retail market.
The company, which reported a 13.3 per cent jump in first quarter profits Thursday, said it wants to sell large appliances such as stoves or dishwashers by the end of next year as it beefs up the product assortment at its living aisles— which include kitchens, storage, home decor, and cleaning.
Canadian Tire has tested large appliances in some stores and receives feedback from thousands of customers who answer surveys printed on store receipts.
“The test has proven to be very successful,” Mike Arnett, the company’s president of retail said after the company’s annual shareholder meeting Thursday.
“I think it adds to our credibility and it also leverages the strength and credibility that we already have in the smaller kitchen appliances where we have market leadership, so it’s not that big a stretch.”
The move will put Canadian Tire in competition with retailers such as home-improvement retailers Home Depot, Lowes, and Rona (TSX:RON), The Bay and Sears department stores and furniture stores owned by The Brick (TSX:BRK) and Leon’s (TSX:LNF).
Selling appliances is just one of the ways Canadian Tire is diversifying its product offerings. Earlier this week, it made a $771 million bid to buy the Forzani Group (TSX:FGL), which runs 500 Sport Chek, Athletes World, and other sportswear and equipment stores in malls across the country.
The company said it wants Forzani to gain access to mall-based, urban and younger shoppers who go to those stores for clothing and sports equipment.
Canadian Tire has also been testing new store layouts that highlight its automotive section, and plans to roll out the model to all its stores by the end of the year. It has already trained 4,000 employees to become experts in tire sales, and plans to introduce interactive store kiosks that allow customers to type in their car model and see which tires are right for them.
Customers will also be able to purchase tires online and have them waiting at the store when they arrive.
The company is diversifying its product offering at the same time that the Canadian retail landscape grows more competitive as American retailers expand in Canada.
Experts have said American chains are looking to Canada because they can’t grow further in the U.S., and want to try out international expansion without the risks of heading to very different markets like Europe or Asia.
With Canadian consumer confidence expected to boom once again in 2012, U.S. retailers are looking north now to prepare for when Canadians are ready to open their wallets.
They include general merchandiser Target, which will open up Canadian shops in 2013, and Walmart, which is spending $500 million this year to open 40 more Canadian stores that combine general merchandise and groceries. Several U.S. clothing retailers like Marshalls and Victoria’s Secret have launched their first Canadian locations in the last few months.
Canadian Tire saw first-quarter profits rise 13.3 per cent to $58.4 million in what the automotive, outdoor gear, home improvement and sporting goods retailer described as a somewhat disappointing period, thanks to inclement weather.
The Toronto-based company said its earnings amounted to 71 cents per share, up from $51.6 million or 63 cents per share in the same period a year earlier. Analysts polled by Thomson Reuters had predicted average earnings per share of 72 cents.
Canadian Tire said its retail sales were up 3.7 per cent, and consolidated revenues grew 4.6 per cent, adding it was happy with revenues in its automotive, apparel, and financial services divisions which met expectations.
It said unseasonably cold weather in March and continuing into April reduced customer traffic and sales in seasonal products.
The retailer has undergone major overhaul both in its executive suite and as the result of shifting its separate units under one corporate umbrella to eliminate duplicate costs.
That overhaul came just months after the company announced it was refocusing on its core automotive and retail businesses instead of other divisions like financial services and clothing sales at Mark’s Work Wearhouse.
Part of that strategy was to update its store design, transforming layouts into “smart stores” — which direct customers more easily and highlight the automotive division.
Canadian Tire’s automotive sales had previously been hit by weaker consumer demand, more competition and a deteriorating reputation in a business that once built the brand.
It has also announced “Work Wearhouse” will be dropped from the Mark’s brand as the store sells more casual clothing and steers away from its historical industrial clothing focus.
Canadian Tire employs more than 58,000 people with 485 stores across the country.
Shares in Canadian Tire were up $1.05 to $62.36 in midday trading on the Toronto Stock Exchange.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk