Latest news with #CTR
Calgary Herald
6 days ago
- Business
- Calgary Herald
What you need to know about Canadian Tire, the retail giant that bought Hudson's Bay brands
Article content 'We believe that COVID-19 has permanently shifted the shopping behaviour of many,' Hicks said during his first quarterly earnings call as chief executive, adding that delivering a compelling digital experience for customers would be 'a key priority' for the company. Article content Article content Hicks rose to the chief executive role after working for more than seven years at Canadian Tire Retail (CTR), the company's retail segment. As president of CTR, he oversaw more than 500 stores across Canada and grew the company's Owned Brands portfolio, which generated more than $4 billion in sales in 2019. He also led the acquisition of Party City's Canadian operations. Article content In March 2025 Canadian Tire launched its True North strategy, designed to improve operational efficiency, Hicks said in a statement. Canadian Tire said it would invest $2 billion over four years to eliminate silos, focus on core retail businesses and restructure the company for growth. Article content Article content Since Hicks took over, the company has seen revenue increase about 13 per cent. Canadian Tire's revenue in 2019, just before the COVID-19 pandemic hit and Hicks started as CEO, was $14.5 billion. Revenue in 2024 was $16.4 billion. Article content Hicks's time at the helm hasn't passed without controversies, however. Article content In 2022, the company faced labour allegations of violating international human rights standards for failing to ensure workers in its supplier factories in Bangladesh were paid living wages. Canadian Tire responded that while it worked with third parties to audit global manufacturing facilities, it did not directly operate any factories in Bangladesh and its 'ability to influence suppliers was limited.' Article content Hudson's Bay made headlines in March 2025 when the 355-year-old company that predates the founding of the Dominion of Canada filed for bankruptcy and began liquidating most of its stores — sending shoppers scrambling to get their hands on some striped memorabilia and HBC's signature blankets. Article content Article content In May 2025, Canadian Tire announced it was buying the intellectual property of Canada's oldest retailer for $30 million, including brand trademarks such as HBC's multicoloured stripes, coat of arms and logo. Article content The agreement is subject to court approval, but Canadian Tire said it expected the transaction to close in the summer. Article content 'Some things are just meant to stay Canadian,' said Hicks in a statement, adding that it was 'disheartening to witness the final days of another great Canadian retailer.' Article content Hicks said the decision to purchase HBC brands was strategic as well as patriotic, fitting into the company's True North strategy. He noted in a May earnings call that the company was 'not contemplating a wholesale acquisition of HBC's operations' as it was 'not a good fit' for the company at the time. Article content The decision was a smart move for Canadian Tire, Anastaskis said.
Daily Record
16-05-2025
- Business
- Daily Record
Lower your next Council Tax payment without claiming a discount
Council Tax bills have increased across the country but there is a fast way to lower the monthly payment. Households across Scotland are paying higher monthly Council Tax bills this year after local authority-wide increases came into force last month. For people worried about the rising cost, a simple solution - that anyone paying their bill by Direct Debit can do - is to extend the scheduled payments from 10 months to 12. Council Tax is typically paid between April and January, however, you can spread the costs, which will lower the monthly amount, but it will mean you are paying every month with no breaks. To arrange the change in payments you will need to agree to pay your Council Tax by monthly Direct Debit, which can be done online on your local council's website where payment frequency options are given. If you are on a low income, or certain benefits, you can also or give them a call to find out if you are eligible for a Council Tax Reduction (CTR). The latest figures from the Scottish Government show 458,470 recipients were eligible for Council Tax Reduction in December 2024, saving an average of over £850 a year. The data indicates that one-in-five households are being supported through the scheme, which is not available anywhere else in the UK. Only people on a low income and resident in Scotland may be eligible for a Council Tax Reduction, which also provides successful claimants with up to 35 per cent off their water and waste charges. While the Council Tax Reduction scheme mostly supports households on a lower income, help is also available for middle-earners or people finding it difficult to keep up with payments - especially those on a higher band. To find out about getting help with your Council Tax, contact your local authority and explain your financial situation, they may be able to put your account on 'hold' and agree the next payment date, giving you a bit of breathing room to get back on track. Details of other help available including extra financial support or for things like food, heating and electricity can be found on the Scottish Government's cost of living crisis support website here. Below is a quick guide on how to check your Council Tax bill and a list of circumstances which could see you paying less each month. Check if you could be exempt from paying Council Tax You will not pay Council Tax if: You are a full-time student You are in the Armed Forces in Forces accommodation You live in a care home or hospital Your home is unoccupied and empty (up to six months) - for example, if you've gone into hospital You have a severe mental impairment (e.g. dementia) - if you only live with someone who has dementia, then you'll be treated as a sole occupant as they will be disregarded, but you won't both be exempt Contact your local authority about your eligibility and how you can apply for an exemption - a link to all 32 local authorities in Scotland is at the bottom of this page. Could you be eligible for a discount on your Council Tax bill? There are some circumstances where you may get a reduction on your Council Tax and the amount of discount varies depending on your circumstances. If you live alone The full Council Tax is calculated assuming there are two or more people living in each home – if you live alone, you should apply to your local council for a discount - you could get a 25 per cent reduction, regardless of your financial circumstances. If you live with someone under 18 or a student Council Tax is not calculated for anyone aged under 18, full-time students, student nurses and some apprentices or trainees. If you are a carer Carers who look after someone in the household for at least 35 hours per week and who meet additional criteria may be disregarded for Council Tax purposes, contact your local authority for their eligibility criteria. Just be aware, this doesn't apply if the person receiving care is the partner of the carer, or is the carer's child aged under 18. If there are major changes to the value of your home You may be able to get your home moved to a lower band if it has decreased in value. For example, if you have made home adaptations for a disabled person, or if a motorway has been built nearby. You may also get the band lowered if a room in the house is dedicated to equipment used by a disabled person on a daily basis. If you change the way you pay Although the total year's amount will stay the same, you can request your bill be split over 12 months instead of 10, so you can spread the cost and reduce your monthly outgoings. Alternatively, if you can afford to pay the whole bill in one lump sum, check with your local council if you can get a discount. Apply for Council Tax Reduction You may be eligible to claim a Council Tax Reduction if you're on a low income or claiming certain benefits. You can also claim Council Tax support regardless of whether you own your own home or rent, or whether you're working or unemployed. Each local council is responsible for operating their own Council Tax support scheme, so the amount of support given across the country may vary. The amount you will get depends on many factors, including: Which benefits you receive Your age Your income Your savings Who you live with How much council tax you pay You may get more Council Tax support if you receive a disability or carers benefit. If you receive the Guarantee Credit Part of Pension Credit you may even get your Council Tax paid in full. If you don't have it, but are on a low income and have less than £16,000 in savings, you may still get some help. Local councils Contact your local council from the list below to apply for a Council Tax Reduction or discount. Inverclyde Renfrewshire West Dunbartonshire East Dunbartonshire Glasgow East Renfrewshire North Lanarkshire Falkirk West Lothian Edinburgh Midlothian East Lothian Clackmannanshire Fife Dundee Angus Aberdeenshire Aberdeen Moray Highland Na h-Eileanan Siar Argyll and Bute Perth and Kinross Stirling North Ayrshire East Ayrshire South Ayrshire Dumfries and Galloway South Lanarkshire Scottish Borders Orkney Shetland
Business Wire
13-05-2025
- Business
- Business Wire
ClinTrial Research Teams Up With Trially AI to Multiply Enrollment in Complex Clinical Trials
RESEARCH TRIANGLE PARK, N.C. & KANSAS CITY, Mo.--(BUSINESS WIRE)-- ClinTrial Research (CTR), a leading site management organization (SMO), today announced a strategic partnership with Trially®, the latest breakthrough in HIPAA-compliant AI matching technology. After six months of collaboration, the partnership has shown significant improvements in patient identification, enrollment speed, and operational efficiency. "Trially's proprietary AI has improved our ability to pre-screen candidates, reducing the time and resources typically spent on manual EHR chart reviews while improving the diversity and quality of our patient pools." Share How Native AI Technology is Advancing Site Operations By implementing Trially's AI EMR matching technology, CTR has experienced notable improvements in its clinical trial operations: Increased monthly patient enrollment rates Significant reduction in screen failures Less time spent on manual EHR chart reviews Increased site revenue due to higher study KPIs Enhanced diversity through real-time protocol population analytics Instant API integrations with multiple EHR systems including IMS, TriMed, Athena, RelyMed, and others Expanded site network capabilities, with successful implementations across multiple therapy areas including Behavioral Health and CNS, Respiratory, Internal Medicine Gastrointestinal, Nephrology and Ophthalmology "Our mission at CTR is to build the premier, next-generation site management organization, setting new standards of excellence in clinical trial management," said ClinTrial Research's Chief Commercial Officer, Sam Searcy. "Our partnership with Trially aligns perfectly with our commitment to using AI-driven data analytics and high-precision patient identification to accelerate clinical trial timelines. Trially's proprietary AI has improved our ability to pre-screen candidates, reducing the time and resources typically spent on manual EHR chart reviews while improving the diversity and quality of our patient pools." Setting New Standards for AI Clinical Trial Enrollment The partnership demonstrates CTR's commitment to setting new standards of excellence in clinical trial management and represents a significant step forward in Trially's mission to get life-saving therapies to patients faster. Both organizations share a vision of accelerating the development of new treatments through more efficient, transparent, and inclusive clinical trials. "We built Trially to solve the root causes of clinical trial delays," said Trially CEO Kyle McAllister. "The team at CTR has done an amazing job integrating our technology into their workflow. Their network of clinical partners really knows how to put our platform to work, making it their top source for finding qualified patients. What impresses me most is how CTR balances technological efficiency with their unwavering commitment to patient care and data security. It's been rewarding to see how they've adapted our solution across different systems to accelerate their enrollment timelines." For more information about the partnership, visit About Trially Trially® is shaping the future of clinical trial recruitment with its proprietary AI matching technology that safely unlocks rich clinical data to enroll qualified patients faster. Proven to multiply enrollment rates by 200%, reduce screen failures by 73%, and improve site efficiency by 90%, Trially's site-based software rapidly integrates with any EMR or CRM while maintaining full compliance with HIPAA, SOC 2, FDA 21 CFR Part 11 and ISO 27001 regulations. Designed to meet the needs of Physicians, Research Sites, Sponsors and CROs, Trially empowers you to achieve outstanding results in clinical research. For more information visit About ClinTrial Research ClinTrial Research (CTR) is a next-generation SMO deploying innovative technology, driving positive physician and patient-centered clinical excellence, while providing high-quality data analytics to Sponsors and CRO partners. CTR is Empowering Research, Enhancing Lives.
Scottish Sun
13-05-2025
- Business
- Scottish Sun
Households can now apply for cost of living cash worth £100
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) THOUSANDS of households can apply for £100 worth of cash to help with the cost of living. The support comes through North Somerset Council's latest allocation of the Household Support Fund. 1 Households can claim £100 worth of cash to help with the cost of living The fund will see more than £2.3million handed out to struggling families, pensioners and vulnerable residents across the region. As part of this, children across North Somerset will be provided with a food voucher next month. In total, around 5,200 children eligible for free school meals will automatically receive a £100 food voucher in June with no application required. The move comes as food prices remain stubbornly high and families brace for yet another expensive summer. Councillor Catherine Gibbons, Deputy Leader of North Somerset Council, said the support is being introduced to make sure no child goes hungry and to ensure struggling families aren't left behind. She said: "Cost of living pressures remain, which is why we are providing free food vouchers, creating a council tax reduction Hardship Fund and supporting key organisations across our area. "No one should go hungry or worry about staying warm." The council is also distributing £50 food vouchers to support other vulnerable residents, including: Those on council tax reduction (CTR) Pensioners People with severe mental impairments Care leavers Housing benefit claimants not already receiving CTR. These will be distributed twice - once in June 2025 and again in January 2026 and are expected to reach more than 12,500 people in total. Five key changes to PIP & Universal Credit as Labour's benefits crackdown unveiled An extra £100,000 is being pumped into a council tax reduction Hardship Fund to help anyone facing financial difficulty due to changes in the benefits system. The fund can help those have little or no income to pay your council Tax. If you are of working age, council tax reduction is a maximum of 75.5%. This means if your annual council tax bill is £1,000, you could get a £755 reduction. On top of that, £220,000 has been earmarked for 'just about managing' households residents who may be financially vulnerable but don't meet the set eligibility criteria for automatic help. Anyone in need can apply online via the council's website. The council is urging anyone in North Somerset who is feeling the pinch to get in touch and explore the support available. For more information and to apply for assistance, visit or call 0800 138 5665. Household Support Fund explained Sun Savers Editor Lana Clements explains what you need to know about the Household Support Fund. If you're battling to afford energy and water bills, food or other essential items and services, the Household Support Fund can act as a vital lifeline. The financial support is a little-known way for struggling families to get extra help with the cost of living. Every council in England has been given a share of £421million cash by the government to distribute to local low income households. Each local authority chooses how to pass on the support. Some offer vouchers whereas others give direct cash payments. In many instances, the value of support is worth hundreds of pounds to individual families. Just as the support varies between councils, so does the criteria for qualifying. Many councils offer the help to households on selected benefits or they may base help on the level of household income. The key is to get in touch with your local authority to see exactly what support is on offer. And don't delay, the scheme has been extended until April 2025 but your council may dish out their share of the Household Support Fund before this date. Once the cash is gone, you may find they cannot provide any extra help so it's crucial you apply as soon as possible. What if I don't live in North Somerset? The £742million Household Support Fund has been allocated to councils across England to help residents facing financial hardship. You do not need to live in North Somerset to apply. If you're on a low income, receiving benefits, or struggling to afford essentials, you may be eligible for support. The type of help available varies by area and may include cash payments, food vouchers, or help with energy bills. Applications are handled by local councils. Some have already opened their schemes, while others are expected to launch soon. Residents are advised to check their local council's website or social media for updates. Many councils have dedicated Household Support Fund pages with details on how to apply. In some cases, councils may contact eligible households directly by post. What other help is available? If you're not eligible for the Household Support Fund, there are still other ways to get financial support. First, check if you're missing out on benefits. Every year, billions of pounds in benefits go unclaimed - and you could be entitled to more than you think. There are free online tools that can help you find out what you're owed: Policy in Practice – Better Off Calculator Entitledto Benefits Calculator Turn2us Benefits Calculator If energy bills are piling up, you might qualify for a grant to help clear your arrears. British Gas and Octopus Energy offer financial assistance to customers in difficulty, with some schemes wiping as much as £2,000 off unpaid energy debts, depending on your situation. It's worth checking with your supplier or visiting their website for eligibility details.
Cision Canada
08-05-2025
- Automotive
- Cision Canada
Canadian Tire Corporation Reports Strong First Quarter 2025 Results Français
TORONTO, May 8, 2025 /CNW/ - Canadian Tire Corporation, Limited (TSX: CTC) (TSX: CTC.A) (CTC or the Company) today announced results for its first quarter ended March 29, 2025. Consolidated comparable sales 1 growth was 4.7%; Retail Revenue was up 4.0%. Q1 saw essential and discretionary purchasing up, with increased customer traffic. Q1 Normalized Diluted Earnings Per Share 1 (EPS) was $2.18, up $0.80; Diluted EPS was $0.67, down $0.71 compared to the prior year. "We had a strong quarter of sales and earnings growth, as we controlled the controllables, elevated customer loyalty, and delivered the great value and seasonal products customers were seeking. It's clear Canadians are choosing CTC," said Greg Hicks, President and CEO, Canadian Tire Corporation. "Since March, we also announced our new transformative growth strategy – True North – and have hit the ground running with investments in new store concepts, dramatic expansion of Triangle Rewards including new RBC and WestJet loyalty partnerships, and a new company structure that maximizes our world-class customer insights and our ability to go to market in more efficient and modern ways." FIRST-QUARTER HIGHLIGHTS Consolidated comparable sales were up 4.7% and consolidated retail sales 1 were up 5.1%. Increased trips drove sales growth across all banners, with particular strength in Ontario, Quebec and Eastern Canada. Canadian Tire Retail (CTR) comparable sales 1 grew 4.7%, with growth across all CTR divisions except Fixing, led by strong growth in seasonal weather-related categories. Auto maintenance, outdoor tools, and auto parts were the top-performing lines of business in the quarter. SportChek delivered a third consecutive quarter of comparable sales 1 growth, up 6.3%, driven by strong sales across both corporate and franchise stores. Skiing and snowboards, hockey, and outerwear were the top performing categories in the quarter. Mark's comparable sales 1 were up 2.2%, driven by industrial wear. New store openings continued to be the most significant contributor to retail sales growth and advances in in-store Net Promoter Score (NPS). Backed by the strength of the Canadian Tire brand and Triangle member engagement, loyalty sales growth outperformed retail sales. Loyalty penetration 1 was up 132 bps, reaching 54.5% of retail sales on a direct scan, rolling 12-month basis. Consolidated income before income taxes (IBT) was down $51.3 million to $51.6 million and Diluted EPS was $0.67, including the results for Helly Hansen business (now included in discontinued operations) and expenses related to the implementation of the Company's True North strategy. Normalized for the True North expenses, IBT 1 on a continuing operations basis was up $62.8 million to $165.7 million, which resulted in Normalized Diluted EPS (continuing operations) of $2.00, up $0.92 from last year. Improved IBT was mainly due to an increase in retail segment profitability. Normalized Retail IBT 1 on a continuing operations basis was $50.9 million, up $69.2 million, due to higher gross margin and lower interest expense. Financial Services IBT was $97.0 million, up $1.3 million, as higher revenue offset expected increases in net impairment losses, as well as higher funding costs. STRATEGIC HIGHLIGHTS During the first quarter, CTC launched True North, its new four-year transformative growth strategy, designed to drive core retail growth through four strategic cornerstones: disciplined capital investments to build exceptional digital and store experiences; an expanded Triangle Rewards loyalty system; creating more personalized and data-driven customer relationships; and a more agile, tech-driven and efficient operating company. The strategy is designed to increase shareholder value above the Company's historic levels. True North includes more than $2 billion in capital investment over the four years starting in 2025 across a series of value creating initiatives in each focus area, which will be overseen by a newly established transformation management office. The transformation is underway, with progress on a number of fronts. As part of True North 's focus on expanding the Triangle Rewards system, the Company announced today a new partnership with WestJet Rewards, in addition to its March 27 th announcement of the addition of RBC as a strategic Triangle partner. Both partnerships are expected to launch in 2026 and will be key building blocks for the strategy, creating more value for Triangle members, increasing member acquisition and engagement, and contributing to retail sales growth by expanding the reach and issuance of Canadian Tire Money beyond CTC's retail banners and Canadian Tire Bank. True North 's store enhancement program will invest in modern new store formats, expected to improve sales, margin and customer experience. Planned investments in 2025 include more than 30 Canadian Tire store projects and 18 Mark's store projects, including seven new Bigger, Better, Bolder stores, capitalizing on Mark's record of accretive returns and emerging market share opportunities in the casual apparel sector. In addition, SportChek is optimizing its portfolio, and opened with the second of its two new concept "Destination Sport" stores, located in Toronto, Ontario, in April of 2025. Since announcing the True North strategy, the Company has begun restructuring into a more agile operating company under a new senior leadership team. CTC is making progress towards the completion of its previously announced divestiture of the Helly Hansen business. The transaction is expected to close before the end of the second quarter, unlocking capital for shareholders and strategic capital investments. CONSOLIDATED OVERVIEW As at March 29, 2025, the assets and liabilities of Helly Hansen have been classified as held for sale and the Helly Hansen results, net of intersegment results, have been presented separately as discontinued operations in the Company's current and comparative results. Unless otherwise indicated, all financial information represents the Company's results from continuing operations. Revenue was $3,456.7 million, up 3.7% compared to $3,332.8 million in the same period last year. Consolidated IBT was $51.6 million, down $51.3 million compared to the prior year. On a normalized basis, consolidated income before income taxes was up $62.8 million. Diluted EPS was $0.49, or $2.00 on a normalized basis, compared to $1.08 on a normalized basis in the prior year. Diluted EPS for discontinued operations was $0.18 in Q1 2025, compared to $0.30 in Q1 2024. Refer to the Company's Q1 2025 MD&A section 4.1.1 for information on normalizing items and additional details on events that have impacted the Company in the quarter. RETAIL SEGMENT OVERVIEW Retail sales 1 were $3,423.0 million, up 5.1%, compared to the first quarter of 2024. Retail sales (excluding Petroleum) 1 were up 4.9% and consolidated comparable sales were up 4.7%. CTR retail sales 1 were up 5.0% and comparable sales were up 4.7% over the same period last year. SportChek retail sales 1 increased 6.5% over the same period last year, and comparable sales were up 6.3%. Mark's retail sales 1 increased 2.6% over the same period last year, and comparable sales were up 2.2%. Retail revenue was $3,061.8 million, an increase of $117.3 million, or 4.0%, compared to the prior year; Retail revenue (excluding Petroleum) 1 was up 3.5%. Retail gross margin was $977.8 million, up 4.2% compared to the first quarter of the prior year, and up 4.0% excluding Petroleum 1; Retail gross margin rate (excluding Petroleum) 1 increased 19 bps to 36.1%. Retail IBT was $(63.2) million in Q1 2025 or $50.9 million on a normalized basis, compared to $(18.3) million on a normalized basis in the prior year. Retail Return on Invested Capital 1 (ROIC), calculated on a trailing twelve-month basis, was 10.4% at the end of the first quarter of 2025, compared to 8.9% at the end of the first quarter of 2024, due to the increase in earnings over the prior period. Refer to the Company's Q1 2025 MD&A sections 4.2.1 for information on normalizing items and additional details on events that have impacted the Retail segment in the quarter. FINANCIAL SERVICES OVERVIEW Financial Services segment IBT was $97.0 million compared to $95.7 million in the prior year. As expected, net write-offs and funding costs were higher when compared to the same quarter last year but were offset by revenue, which was up 1.7%. Gross Average Accounts Receivable 1 (GAAR) was up 1.6% relative to the prior year, driven by continued cardholder engagement that led to higher average account balance 1 which were up 2.3%. Refer to the Company's Q1 2025 MD&A section 4.3.1 and 4.3.2 for additional details on events that have impacted the Financial Services segment in the quarter. CT REIT OVERVIEW Diluted Adjusted Funds from Operations 1 (AFFO) per unit was up 3.9% compared to Q1 2024; diluted net income per unit was $0.363, compared to $0.345 in Q1 2024. Increased its monthly distribution per unit by 2.5% to $0.07903, or $0.94836 per unit on an annualized basis, that will be effective with the July 15, 2025 payment to unitholders of record on June 30, 2025. For further information, refer to the Q1 2025 CT REIT earnings release issued on May 5, 2025. CAPITAL ALLOCATION CAPITAL EXPENDITURES Total capital expenditures were $115.9 million, compared to $121.4 million in Q1 2024. Operating capital expenditures 1 were $110.4 million, compared to $119.1 million in Q1 2024. 2025 operating capital expenditures are expected to be towards the upper end of the Company's previously disclosed range of $525.0 million to $575.0 million. QUARTERLY DIVIDEND On May 7, 2025, the Company's Board of Directors declared a dividend of $1.775 per share, payable on September 1, 2025, to shareholders of record as of July 31, 2025. The dividend is considered an "eligible dividend" for tax purposes. SHARE REPURCHASES On November 7, 2024, the Company announced its intention to repurchase up to $200 million of its Class A Non-Voting Shares, in excess of the amount required for anti-dilutive purposes, in 2025. On March 6, 2025, as part of the announcement of the launch of its True North transformative growth strategy, the Company increased its share repurchase intention to up to $400 million, subject to the completion of the sale of Helly Hansen (the 2025 Share Purchase Intention). Any such repurchases will be made under the Company's 2025-26 Normal Course Issuer Bid. In the first quarter of 2025, $78.1 million of Class A Non-Voting Shares were repurchased under the 2025 Share Purchase Intention. 1) NON-GAAP FINANCIAL MEASURES AND RATIOS AND SUPPLEMENTARY FINANCIAL MEASURES This press release contains non-GAAP financial measures and ratios, and supplementary financial measures. References below to the Q1 2025 MD&A mean the Company's Management's Discussion and Analysis for the First Quarter ended March 29, 2025, which is available on SEDAR+ at and is incorporated by reference herein. Non-GAAP measures and non-GAAP ratios have no standardized meanings under GAAP and may not be comparable to similar measures of other companies. A) Non-GAAP Financial Measures and Ratios Normalized Diluted Earnings per Share Normalized diluted EPS, a non-GAAP ratio, is calculated by dividing Normalized Net Income Attributable to Shareholders, a non-GAAP financial measure, by total diluted shares of the Company. For information about these measures, see section 9.1 of the Company's Q1 2025 MD&A. The following table is a reconciliation of normalized net income attributable to shareholders of the Company to the respective GAAP measures: Consolidated Normalized Income Before Income Taxes, and Retail Normalized Income Before Income Taxes Consolidated Normalized Income Before Income Taxes, and Retail Normalized Income before Income Taxes are non-GAAP financial measures. For information about these measures, see section 9.1 of the Company's Q1 2025 MD&A. The following table reconciles Consolidated Normalized Income Before Income Taxes to Income Before Income Taxes: The following table reconciles Retail Normalized Income (Loss) Before Income Taxes to Income Before Income Taxes: (C$ in millions) Q1 2025 Q1 2024 Income before income taxes $ 51.6 $ 102.9 Less: Other operating segments 114.8 121.2 Retail Income (loss) before income taxes $ (63.2) $ (18.3) Add normalizing items: Restructuring costs 95.4 — Other transformation and advisory costs 18.7 — Retail Normalized Income (loss) before income taxes $ 50.9 $ (18.3) CT REIT Adjusted Funds from Operations and AFFO per unit AFFO per unit, a non-GAAP ratio, is calculated by dividing AFFO by the weighted average number of units outstanding on a diluted basis. AFFO is a non-GAAP financial measure. The following table reconciles GAAP Income before income taxes to FFO and further reconciles FFO to AFFO: Retail Return on Invested Capital (ROIC) ROIC is calculated as Retail return divided by the Retail invested capital. Retail return is defined as trailing 12-month Retail after-tax earnings excluding interest expense, lease related depreciation expense, inter-segment earnings, and any normalizing items. Retail invested capital is defined as Retail segment total assets, less Retail segment trade payables and accrued liabilities and inter-segment balances based on an average of the trailing four quarters. Retail return and Retail invested capital are non-GAAP financial measures. For more information about these measures, see section 9.1 of the Company's Q1 2025 MD&A. 1 Intercompany adjustments include intercompany income received from CT REIT which is included in the Retail segment, and intercompany investments made by the Retail segment in CT REIT and CTFS. 2 Excludes Franchise Trust. 3 Trade payables and accrued liabilities include Trade and other payables, Short-term derivative liabilities, Short-term provisions and Income tax payables. Operating Capital Expenditures Operating capital expenditures is a non-GAAP financial measure. For more information about this measure, see section 9.1 of the Company's Q1 2025 MD&A. The following table reconciles total additions from the Investing activities reported in the Consolidated Statement of Cash Flows to Operating capital expenditures: 1 This line appears on the Consolidated Statement of Cash Flows under Investing activities. B) Supplementary Financial Measures and Ratios The measures below are supplementary financial measures. See Section 9.2 (Supplementary Financial Measures) of the Company's Q1 2025 MD&A for information on the composition of these measures. Consolidated retail sales Consolidated comparable sales Retail revenue (excluding Petroleum) Retail sales and retail sales (excluding Petroleum) Canadian Tire Retail comparable and retail sales SportChek comparable and retail sales Mark's comparable and retail sales Retail gross margin rate and retail gross margin (excluding Petroleum) Gross Average Accounts Receivable Average account balance Loyalty penetration To view a PDF version of Canadian Tire Corporation's full quarterly earnings report please see: FORWARD-LOOKING STATEMENTS This press release contains information that may constitute forward-looking information within the meaning of applicable securities laws, which reflect management's current expectations regarding future events and the Company's True North strategy. All statements other than statements of historical facts contained in this press release may constitute forward-looking information, including but not limited to, information with respect to: the impacts of the Company's True North strategy; the agreement to sell Helly Hansen; the planned launch of loyalty partnerships with RBC and WestJet; the Company's 2025 operating capital expenditure expectations, including planned investments in CTR and Mark's stores; the Company's four year capital expenditure expectations in connection with the True North strategy; and the Company's intention to repurchase its Class A Non-Voting Shares. Readers are cautioned that such information may not be appropriate for other purposes. Often, but not always, forward-looking information can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "believe", "estimate", "plan", "can", "could", "should", "would", "outlook", "target", "forecast", "anticipate", "aspire", "foresee", "continue", "ongoing" or the negative of these terms or variations of them or similar terminology. Although the Company believes that the forward-looking information in this press release is based on information, estimates and assumptions that are reasonable, such information is necessarily subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking information. For information on the material risks, uncertainties, factors and assumptions that could cause the Company's actual results to differ materially from the forward-looking information, refer to section 14.0 (Forward-Looking Information and Other Investor Communication) of the Company's Q1 MD&A, available on the SEDAR+ website at and The Company does not undertake to update any forward-looking information, whether written or oral, except as is required by applicable laws. CONFERENCE CALL Canadian Tire will conduct a conference call to discuss information included in this news release and related matters at 8:00 a.m. ET on Thursday, May 8, 2025. The conference call will be available simultaneously and in its entirety to all interested investors and the news media through a webcast at and will be available through replay at this website for 12 months. ABOUT CANADIAN TIRE CORPORATION Canadian Tire Corporation, Limited (TSX: CTC.A, TSX: CTC, "CTC") has been a proudly Canadian business since 1922. Guided by its brand purpose, "We are here to make life in Canada better," CTC has built an expansive national retail presence, exceptional customer brand trust and one of Canada's strongest workforces – employing, along with its local Dealers and franchisees, tens of thousands of Canadians. At its core are retail businesses, each designed to serve life's pursuits: Canadian Tire, offering products spanning Living, Playing, Fixing, Automotive, and Seasonal & Gardening, bolstered by notable banners Party City and PartSource; Mark's, a leading source for casual and industrial wear; SportChek, Hockey Experts, Sports Experts and Atmosphere, offering the best brands of active wear and gear; and Pro Hockey Life, a hockey specialty store catering to elite players. CTC's banners, brand partners and credit card offerings are unified through its Triangle Rewards loyalty program – a linchpin of CTC's customer-driven strategy. With nearly 12 million members, Triangle integrates first-party data to deliver valuable rewards and personalized experiences across nearly 1,700 retail and gasoline outlets. CTC also operates a retail petroleum business and a Financial Services business and holds a majority interest in CT REIT, a TSX-listed Canadian real estate investment trust. For more information, visit
