Canadian Tire courts gift shoppers with price cuts as costs squeeze consumers

Summary

• Canadian Tire executives are transforming the business into a gifting destination to capture a holiday market worth over $5 billion.
• The retailer reduced prices on more than 5,000 items, including gift wrap & ornaments, & expanded its toy department using Hudson's Bay stripes.
• CEO Greg Hicks aims to increase consumer mindshare for gifts beyond the holidays, such as for birthdays & Mother's Day.
• Economic challenges, including tariff tensions & the war in Iran, have raised household expenses & lowered consumer confidence.
• Consumers are spending cautiously but will purchase when the value proposition meets high standards for price, relevance, & trust.
• A warm autumn season negatively impacted sales, which typically grow as temperatures drop.
• The company raised its quarterly dividend to $1.825 per share from $1.80.
• Third-quarter net income attributable to shareholders rose to $219.6 million, or $4.27 per diluted share, compared to $169.1 million last year.
• Total revenue reached $4.32 billion, up from $4.11 billion in the third quarter of 2025.
• Overall comparable sales grew 3.2 per cent, with gains of 3.2 per cent for Canadian Tire & SportChek, & 3.3 per cent for Mark's.