In a world of digital wallets, virtual currency and polymer bills can there still be a place for the coupons handed out by Canadian Tire?
While the retailer has alluded to its desire to end the 50-year-old tradition of rewarding cash or debit purchases with Canadian Tire money, in favour of a card-based loyalty program, the prospect has reportedly met some internal corporate resistance.
"How to Fix Canadian Tire," a feature published in the July/August issue of Report on Business magazine, has focused on its recent efforts to overcome the stubbornness long associated with the stores.
A recent $771 million acquisition of the Foranzi Group, the Calgary-based owner of a dozen different sporting goods store banners across the country, was seen as one way to update Canadian Tire's homegrown image. A decade earlier, it acquired Mark's Work Wearhouse for $116 million.
With new retail competition arriving from the U.S., diversification is expected to help the bottom line, although chief
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