Canadian Tire unveils $3.4-billion plan to improve customer experience, drive growth

A Canadian Tire store is seen in North Vancouver, B.C. Thursday, May 10, 2012. HE CANADIAN PRESS/Jonathan Hayward

TORONTO — Canadian Tire Corp. has announced a multi-billion dollar plan to improve customer service and bolster sales.

The retailer, which operates several banners including Canadian Tire, SportChek and Mark's, says the $3.4-billion investment will “bolster omnichannel capabilities” and drive long-term growth.

The company says the investment will help improve customer experience across its online and brick-and-mortar stores while growing its loyalty program.

Canadian Tire says it will also strengthen its supply chain fulfilment infrastructure and automation and modernize its information technology infrastructure.

Chief executive Greg Hicks says the investments will improve customer experiences, create jobs and help drive local economies.

The announcement was made as Canadian Tire kicked off its virtual investor day, where the company's leadership team are expected to provide further details on the plan.

“The future will belong to retailers who can provide the most seamless experience across digital and physical channels,” Hicks said during his opening remarks Thursday.

“We'll create a seamless omnichannel experience that is unified across our portfolio of retail banners, products and services.”

This report by The Canadian Press was first published March 10, 2022.