Latest news with #CanadianTireCorp.Ltd
Winnipeg Free Press
12 hours ago
- Business
- Winnipeg Free Press
Hudson's Bay changes name to Rupert Legacy after selling IP to Canadian Tire
TORONTO – The business running the defunct department store once known as Hudson's Bay has changed its name. The company and its subsidiaries now have various names beginning with Rupert Legacy. The name is a reference to Prince Rupert, the Bay's first governor, and Rupert's Land, a vast swath of wilderness Hudson's Bay was given control over in 1670, when it began as a fur trading business. Hudson's Bay had to make the change as a condition of an agreement it signed to sell Canadian Tire Corp. Ltd. its name and trademarks. The $30-million deal included the Bay's iconic stripes motif, its coat of arms, its Distinctly Home housewares brand, its Hudson North apparel line, as well as catchphrases like 'Bay Days' and the Zellers slogan 'the lowest price is the law.' Monday Mornings The latest local business news and a lookahead to the coming week. The department store, which has liquidated and closed all of its stores, is still under creditor protection and is in the process of selling its leases and preparing to auction off its art and artifacts. This report by The Canadian Press was first published Aug. 12, 2025.
Winnipeg Free Press
6 days ago
- Business
- Winnipeg Free Press
Canadian Tire sees Q2 profit drop on higher expenses as revenue rises
TORONTO – Canadian Tire Corp. Ltd. reported its second-quarter profit fell compared with a year ago as its revenue increased by about five per cent. The Toronto retailer says its net income attributable to shareholders totalled $168.2 million or $2.04 per diluted share for the quarter ended June 28 compared with $207.7 million or $3.56 per diluted share a year ago. The company blamed the drop on the completion of its Helly Hansen sale and expenses related to its True North transformation program. Its net income attributable to shareholders from discontinued operations amounted to a loss of $56.1 million or $1.03 per diluted share in its latest quarter compared with a loss of $8.9 million or 16 cents per diluted share in the same quarter last year. On a normalized basis, Canadian Tire says it earned $3.57 per diluted share from continuing operations compared with $3.72 per diluted share a year earlier. Revenue for the quarter totalled $4.2 billion, up from $4.0 billion in the same period last year. Monday Mornings The latest local business news and a lookahead to the coming week. This report by The Canadian Press was first published Aug. 7, 2025. Companies in this story: (TSX:CTC)
Winnipeg Free Press
29-07-2025
- Business
- Winnipeg Free Press
Canadian Tire eliminating some corporate jobs amid restructuring
Canadian Tire Corp. Ltd. says it is eliminating some corporate positions. The retailer says in a statement that the cuts are part of a restructuring that was announced earlier this year, aimed at helping it compete amid an increasing need for speed and efficiency. 'Changes are underway and we are altering various processes and teams to transform and modernize. As a result, some corporate roles are expanding and others are being eliminated,' a Canadian Tire spokesperson said. 'While these changes are difficult, they are necessary to ensure that we remain a strong retailer, job creator, and contributor to the Canadian economy well into the future.' Canadian Tire did not specify the number of positions being impacted. In March, Canadian Tire announced a new strategy to invest $2 billion over four years to restructure the company for growth. Monday Mornings The latest local business news and a lookahead to the coming week. This report by The Canadian Press was first published July 29, 2025. Companies in this story: (TSX: CTC.A)
Hamilton Spectator
29-07-2025
- Business
- Hamilton Spectator
Canadian Tire eliminating some corporate jobs amid restructuring
Canadian Tire Corp. Ltd. says it is eliminating some corporate positions. The retailer says in a statement that the cuts are part of a restructuring that was announced earlier this year, aimed at helping it compete amid an increasing need for speed and efficiency. 'Changes are underway and we are altering various processes and teams to transform and modernize. As a result, some corporate roles are expanding and others are being eliminated,' a Canadian Tire spokesperson said. 'While these changes are difficult, they are necessary to ensure that we remain a strong retailer, job creator, and contributor to the Canadian economy well into the future.' Canadian Tire did not specify the number of positions being impacted. In March, Canadian Tire announced a new strategy to invest $2 billion over four years to restructure the company for growth. This report by The Canadian Press was first published July 29, 2025. Companies in this story: (TSX: CTC.A)
Hamilton Spectator
08-05-2025
- Business
- Hamilton Spectator
Canadian Tire Q1 profit down from year ago due to restructuring costs
TORONTO - Canadian Tire Corp. Ltd. reported its first-quarter profit fell compared with a year ago as it was hit by restructuring costs. The retailer says its net income attributable to shareholders from continuing operations amounted to $27.3 million or 49 cents per diluted share, down from $59.9 million or $1.08 per diluted share a year ago. The company says its net income attributable to shareholders from discontinued operations totalled $9.9 million or 18 cents per diluted share in its latest quarter compared with $16.9 million or 30 cents per diluted share in the same quarter last year. On a normalized basis, Canadian Tire says it earned $2.00 per diluted share from continuing operations, up from $1.08 per diluted share a year earlier. Revenue for the quarter totalled $3.46 billion, up from $3.33 billion in the same period last year. Canadian Tire also announced a partnership with WestJet that will bring together their loyalty reward programs. Starting early next year, the company says the partnership will allow Triangle Rewards' and WestJet Rewards' members the ability to link their loyalty accounts and earn stacked rewards. This report by The Canadian Press was first published May 8, 2025. Companies in this story: (TSX:CTC)
