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Speak to an expert Fill in your details below and one of our dedicated specialists will contact you shortly. Background The iconic brand Canadian Tire needs no introduction. Challenges Maria says she found out about Peninsula while searching online for some HR advice. Peninsula has also helped the store create an employee handbook and new employee contracts. Maria says the information was incorrect and Peninsula verified it.
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Performance Performance. Analytics Analytics. Advertisement Advertisement. Others Others. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". Billes cemented his hold as president of the company he cofounded, he began looking for successors.
He gave direct control of the Canadian Tire flagship store at Yonge and Davenport to his eldest son, Fred, but he also began searching outside the family for a new leader.
By , A. In anticipation of the transition, Muncaster had been promoted to vice president in and formally took over as president in Muncaster launched three key initiatives.
Gone were the days when a new dealer might acquire a Canadian Tire store with a simple handshake and an agreement to buy Canadian Tire products. Second, Muncaster looked west, as Canadian Tire had no presence west of Ontario.
By the end of , the company opened a store in Winnipeg. Finally, he brought in one of the first IBM computer systems in Canada to help streamline inventory management across the growing organization.
For the most part, the Muncaster-led expansion was successful. However, not everything went well during the s, when rates of both inflation and unemployment were high; by , the company reported its first ever year with no profit, and concerns about oversupply and overexpansion grew. During the s, the long-simmering disputes between the Billes family members erupted.
In , A. Rifts also began to emerge between the Billes family and Muncaster, namely over his expansion plans in Australia, A. The divided situation became more complicated when the various charitable organizations that held the trust shares that had been bequeathed by J. Imasco was encouraged by interest from Muncaster and the Canadian Tire management team but faced stiff resistance from A.
J and his children. Following a highly unprofitable purchase of the Texas retail chain Whites, Muncaster was ousted as president in However, ownership uncertainty remained, as Martha, Fred and David Billes, who had a famously tumultuous relationship, continued to jockey for control of the company shares. The dealers also sought to increase their power. If successful, the dealers would acquire a majority share of the firm. The bid caught the attention of the Ontario Securities Commission, which alleged that the deal did not consider the interest of shareholders with nonvoting shares, who would not benefit from the high price for voting shares.
After the OSC quashed the dealer bid, the siblings took their dispute to court. Finally, in October , an agreement was reached between the siblings and the dealers whereby no one party could make a sale that would threaten their majority hold without first informing the other parties and giving them first opportunity to bid.
Despite the widely reported ownership disputes, the company began to recover from its difficulties following the Whites acquisition. The company ran several successful advertisement campaigns, and in the firm reported profits. Canadian Tire has undertaken several initiatives in its effort to remain competitive, particularly with the expansion of US-based chains like Walmart and Home Depot and growing competition from online retail services.
The company homogenized the layout of Canadian Tire stores, using clearly delineated sections and providing information kiosks. Building on its experience with Canadian Tire money, the company expanded its financial services arm, launching the Canadian Tire Bank in The bank was meant primarily to market a credit card linked to Canadian Tire money.
To capture more of the youth market, Canadian Tire took over Forzani Group owner of Sport Chek and other athletic stores in In recent years, Canadian Tire has focused on its online store, recalling its catalogue roots that took it from Toronto to the entire country.
It has also continued to expand its product and brand offerings. It acquired Norway-based sportswear company Helly Hansen in Canadian Tire Corporation, Limited Canadian Tire Corporation, Limited is a network of interrelated businesses, engaged in retail, financial services, and petroleum.
Search The Canadian Encyclopedia. Remember me. I forgot my password. Why sign up? Create Account. Suggest an Edit. Enter your suggested edit s to this article in the form field below. Accessed 11 November In The Canadian Encyclopedia. Historica Canada. Article published February 06, ; Last Edited September 23, The Canadian Encyclopedia , s.
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