WMT - Canadian Tire: Not Out Of The Woods Yet
2024-06-20 15:23:54 ET
Summary
- Canadian Tire Corporation, Limited is a Canadian group of companies with a Retail segment, Financial Services division, and REIT.
- Q1 results showed a drop in retail sales, but positive performance in the REIT segment and improvements in margins.
- Analyst consensus is a Hold rating with a price target of $150, reflecting uncertainty in the Canadian economy and the potential for further share price erosion.
- In this update, I will examine developments since my previous article and update my rating. I will also share how I intend to play it.
Canadian Tire Corporation, Limited 'CTC' - listed on the TSX under the ticker, ( CTC.A:CA) is a Canadian group of companies that includes a Retail segment, a Financial Services division and a REIT, ( CRT.UN:CA ) The flagship retail business dates back to 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal & Gardening divisions. Party City, PartSource and Gas+ are key parts of the Canadian Tire network. The Retail segment also includes Mark's, a leading source for casual and industrial wear; Pro Hockey Life, a hockey specialty store catering to elite players; and SportChek, Hockey Experts, Sports Experts and Atmosphere, which offer the best active wear brands. Canadian Tire is a strong player in Canada, competing with the likes of Walmart ( WMT ) and Home Depot ( HD )....
Canadian Tire: Not Out Of The Woods Yet