Canadian Tire already owns SportChek and Mark’s, they are already in the clothing space.
I also take issue with the description of Canadian Tire, they are a department store focusing on automotive, tools, home and garden, kitchen, and sporting goods.
Their businesses aren’t that drastically different, and it sounds more like they want the brand for a smaller range of goods using HBC stripes.
I mean Canadian Tire is more of a general store.
Hudson Bay started out as a general store and evolved to a more upper class department store. It’s way classier or at least it is meant to be but I totally see the link between the two.
Also, Canadian Tire has more than just the Canadian Tire stores now, they own Mark’s, Sports Chek, Helly Hansen, Sher-Wood and a couple of other sport related stores in Quebec primarily focused on Hockey, they’ve been slowly expanding for a couple of years.
Much like HBC, Canadian Tire has a lot of overpriced retail. They don’t overlap much beyond kitchenware though.
I guess this gets Canadian Tire into the full department store business like Walmart, Target, or Sears. Now they just need to start selling groceries (again).
I’m not too surprised, but I think CT needs to be careful with how many product categories they have. Earlier this year they sold off the Helly Hanson brand ($1.3bil), so they’ve got a hole in their portfolio to fill during the 4-year/$2bil restructuring.
Canadian Tire???
huh I would’ve never imagined CT to buy Hudsons Bay
For non-Canadians, my shock comes from the fact that:
It’s like an ice cream company buying a travel agency; it’s not impossible, it’s just quite shocking if it happens.
Edit:
Oh wow I didn’t realize that CT already owned companies such as SportChek and Marks🤔 TIL.
Canadian Tire already owns SportChek and Mark’s, they are already in the clothing space.
I also take issue with the description of Canadian Tire, they are a department store focusing on automotive, tools, home and garden, kitchen, and sporting goods.
Their businesses aren’t that drastically different, and it sounds more like they want the brand for a smaller range of goods using HBC stripes.
And Atmosphere.
I’m just glad it’s staying in Canada
I mean Canadian Tire is more of a general store. Hudson Bay started out as a general store and evolved to a more upper class department store. It’s way classier or at least it is meant to be but I totally see the link between the two.
Also, Canadian Tire has more than just the Canadian Tire stores now, they own Mark’s, Sports Chek, Helly Hansen, Sher-Wood and a couple of other sport related stores in Quebec primarily focused on Hockey, they’ve been slowly expanding for a couple of years.
Much like HBC, Canadian Tire has a lot of overpriced retail. They don’t overlap much beyond kitchenware though.
I guess this gets Canadian Tire into the full department store business like Walmart, Target, or Sears. Now they just need to start selling groceries (again).
Canadian Tire also owns Helly Hansen, Paderno and many other brands.
I’m not too surprised, but I think CT needs to be careful with how many product categories they have. Earlier this year they sold off the Helly Hanson brand ($1.3bil), so they’ve got a hole in their portfolio to fill during the 4-year/$2bil restructuring.