Monday, 27 February 2012
Ex-janitor takes over as owner at Canadian Tire in Nanaimo
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| Carl Head |
Carl Head, who took his
first job in the 1963 as a janitor at Canadian Tire located at Toronto. Head
who worked in all the stores of Canadian Tire in Canada is now the new owner of
franchise operation in Nanaimo. Nanaimo store which is located in the city’s
north was owned and operated by Al Abbott
is now owned by Head.
On Christmas occasion
when Abbott retired Head said that his plans for his new store, including
expanding its automotive department and putting more of a focus on customer
service and relations. Head even disclosed that he had “heard rumours” that
they are making plans to move their store to another location by the end of
2013 when the lease on the current site runs out. In order to subside this new
head announced that "There's no doubt that Nanaimo is a growing city and
we're getting a little cramped at this location, but it's ultimately up to
corporate headquarters to make these decisions,"
Head openly declare
that a rumour that the Canadian Tire store is eyeing Nanaimo North Town Centre
for its new location in the city is "just speculation" at this point.
The six famous locations of Canadian Tire Toronto, Thunder Bay, Corner Brook
and Calgary are owned by Head since last 36 yrs. In order to buy his Nanaimo
location Head sold his latest store in Cal-gary. When he purchased his
Nanaimo’s location he moved there with his family member.
He shared his experience
of his work in which he gave most importance’s to customers relationship with
the store to make it more clear to everyone he said that customer relations is
vitally important to the success of his stores, and he intends to make it a
focus of the Nanaimo's approximately 100 employees to give as much
"one-on-one" service to the customers as possible.
"The automotive
departments is a key part of all Canadian Tires and I intend to double our
automotive product line," Head said. Head already had his family living in
Nanaimo, including Evelyn his daughter, who runs a chiropractic clinic there.
He is satisfied with the work in Nanaimo and appreciated its workers by saying
that "I'm very pleased with the store and all of its workers, and I look
forward to living and working in Nanaimo."
What do you think;
Canadian Tire will achieve same success that he achieve at different parts of
the Canada?
Canadian Tire to inventors: Bring your crazy idea to us
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| what do you think it is? |
Canadian Tires try to
increase their sales by using a dragon den approach which helps them to
increase near about 2.7% increase in its automotive sale for 2011 “The focus of
this program is on innovative and new items for Canadians,” said Andrew Davies,
vice-president automotive for Canadian Tire.
The event named Unwrap
the Ultimate Auto Gifts search helps in the online submission of manufacturer’s
distributors and entrepreneurs. The best among them are selected and giving 15
minutes for each presentation, which results to the origin of 155 new products
and an increase of 2.7% of increase in sale for that year which was above the expectation
of the Canadian and encourage the retailer to hold another pitching panel in
Toronto this week, with an eye to the Christmas 2012 market.
The most popular gifts
discover last year was The Road Mice – a cordless computer mouse in the shape
of iconic cars like Lamborghinis and Corvettes for $40, and the remote Key
Finder for $15, a simple paging device that helps locate lost keys.
Jon Krassny,
vice-president of licensing and business for Four Door Media Inc., said that
“Having a direct path to the buyers in a one-on-one situation is a great
benefit. I guess the best analogy would be it’s a personal interview as opposed
to just sending your resume”. Canadian Tire use seasonal gifts on different
occasions like on Christmas or on father’s day
Even they introduce new
gift items still they give same importance’s to old products. They even conduct
background research and due diligence to make sure that new products contains
all the safety hazards. Their make focus is how to attracts more people towards
them and give them good services at lower possible prices.
Introducing new
inventors is good idea or not?
http://www.thestar.com/business/article/1133352--canadian-Tire-to-inventors-bring-your-crazy-idea-to-us?bn=1
History Of Canadian Tire
Two brothers John W. and Alfred Jackson (A.J.) Bills in year 1922 started an automobile service garage and auto parts depot in Toronto with the investment of 1,800$ and named it as Hamilton Tire and Garage Limited which is today know as Canadian Tire. They started it with stocked a small inventory of repair and replacement goods, including Tires, batteries, and automobile fluids. After four years of its origin Blesses decided to change the name of their shop and gave it a new name as Canadian Tires.
From year 1930 to 1960
Canadian Tires achieved a great success. A.J.
knew that in gasoline they can earn a great money but as the demand was
high no one is going to give gasoline to them in cheaper price, to overcome
this he introduce customer coupon which customers can use in his store for
merchandise. This was a brilliant idea, which is continued even today. Second
A.J.'s innovation was clerks on roller skates. In 1931 Canadian Tire introduce
their first unconditional Tire guarantee before that they had guaranteed Tires.
In 1934 the company
opened an associate store in Hamilton, Ontario. This was the first step towards
the huge chain of stores that spanned Canada today. As the chain expanded,
Canadian Tire's stores and mail-order catalogs began featuring a wide range of
parts and supplies--many under the Canadian Tire brand name--including motor
and chassis parts, radio equipment, and hundreds of miscellaneous accessories.
As a result of this by the end of 1937 they had almost 73 stores in all over
Canada.by the end of 1952 Canadian Tire sold 57 tons of inventory everyday
which was increased to 225 by 1960.
By the end of 1960 they
started their store in British Columbia. By the mid of 1980 they earned 2
million Canadian dollar as their yearly income. The company had started selling
a large amount of sporting and leisure items, as well as hardware, lawn and
garden items, inexpensive furniture and other home products, and even luggage.
In essence, Canadian Tire was becoming a general-merchandise discount store
with an emphasis on automotive products. By end of 1980 they had 10 Auto Source
Outlet. Canadian Tire's net earnings plummeted to just CAD 5.5 million in 1994.
At the age of 93 A.J.Billes
passed way in April 3, 1995. By the end 1999 profits had improved to CAD 145.9
million. In 2000 they launch "Next Generation" stores. By 2002, 290
of Canadian Tire's 451 outlets featured one of the newer store formats. In the
same year they launched their website. Canadian Tire acquired Mark's Work Warehouse
Ltd in 2002; it sold casual clothing and footwear for work and leisure. During
2004 Canadian Tires earned a profit of CAD 291.5 million. Canadian Tire, one of
a dwindling number of Canadian-owned retailers, confidently looked to the
future as an icon of the Canadian business community, and indeed for many
Canadians it was an integral part of their lives.
Canadian Tire ups dividend policy
Canadian Tire tries to
adjust its dividend policy to improvement outgoings to shareholders, sending
its stock up by more than 4%. According to iconic home and hardware chain in
the form of dividend they have pay about 20% to 25% of the prior year's basic
earnings per share. Which increases the quarterly payout by 27.5 cents per
share from 21 cents in year 2011?
"Overall, our
business is performing well," said Stephen Wetmore, president and chief
executive of Canadian Tire. "We have managed conservatively through
challenging economic conditions and we have confidence in our continued
performance which is reflected in our decision to increase our dividend payout
and to repay $300 million in debt that matured this quarter."
The Toronto-based chain
is giving importance’s to its core business and discloses that net earnings
rose from 21% to $103.2 million. This includes the restructuring charge of
14.7% and reduces the profit to 31% and retail sales rose 2.6% to $2.51
billion.
The company said that
Backyard, cleaning, exercise and outdoor recreation all performed well in the
quarter, automotive sector also reports higher sales in parts, pride and
accessories.
Mark a comment
http://www.torontosun.com/money/2010/11/11/16092616.html
Canadian Tire relaunching e-commerce site
Canadian tire is having
more than 485 stores all over Canada, in order to increase its sell and to
attract more people towards them they decided to relaunch their e-commerce site,
which amplify its retail automotive business beyond Canada.
The main motive behind
this launch is to drive a new age band of shoppers to their stores for
connection and superfluous product and/or service sales once there. The site
which can be used by the customers for their vehicle, model year, tire size,
tire type and/or brand, the company is www.canadiantire.ca.
By using this site helps the customer to glance more than 8000 products.
This online selling
help the customer to shop alone form any place of the Canada. Some of merchants
ranging from Reitman’s, Le Chateau and Forzani, which runs Sport Chek has been
inspired by this idea and had launched their own e-commerce sites.
An executive
vice-president at Canadian Tire, Glenn Butt said that this year their main
focus will be on a category which has become precedence for the chain. Even the
digital research e-market said that there is nearly 12% increase in online sell
during 2011, about 18.5-billion.
What are your views
about the relaunch of e-commerce by the Canadian tire?
Do you think that it
would be helpful for the elaboration of Canadian tires?
http://www.theglobeandmail.com/globe-investor/canadian-tire-relaunching-e-commerce-site/article1918289/
Saturday, 25 February 2012
Canadian Tire to buy Forzani Group
Canadian Tire offer to take over the
countries leading sporting goods retailers. Forzani Group Ltd, for $771 million
in cash as it looks to battle rising in computation from U.S rivals.
Currently Canadian tire acquire 4 %
of Forzani shares, offered $26.50 for each share. This transaction will
establish Canadian tire Canada’s ultimate in sports, with 1000 combined retail
sports outlets across the country. Canadian Tire will operate Forzani retails
with the separate brand with separate unit and banner .Forzani Group operates
more the 500 different stores in all our Canada under the banner of sports
check.
Forzani’s board approved the offer
and its senior officer and director, who collected about 8.24 percent of stock,
have agreed to vote in favour of the deal. Canadian tire 35 million of saving
and expected 25 million in 2012 and rest will finance the deal with C $500
million of cash on hand and rest will short term financing. The expected
closing date of deal is the third quarter of 2011 year
Shares of Canadian Tire closed at
C$71.30 while those of Forzani Group closed at C$17.61 on Friday on the Toronto
Stock Exchange. Forzani is a perfect fit for Canadian Tire family and will
extend our reach to new customer. Canadian tire sold only basic equipment’s
such as skates board and bikes, but after taking over the Forzani will allow it
attract customer from 18 to 35 olds who tend to shop in malls for more specific
equipment’s.
This decision of buying Forzani will
make Canadian Tire owner of the No. 1 and No. 2 sporting goods retail chains in
the country.
Is the transaction between the
Canadian Tire and Forzani group helps to compete against their competitors?
Mark your comments
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