Canadian Tire says Triangle Rewards are its ‘linchpin’ for growth
Global News
Canadian Tire is touting the success of its loyalty programs and partnerships for its blowout earnings results as value-conscious consumers look to maximize savings.
Canadian Tire is touting the success of its loyalty programs and partnerships for its blowout earnings results, as value-conscious consumers look to maximize savings amid the heightened cost of living in Canada.
This comes after a handful of retailers, including The Bay, Toys R Us, Mastermind, Eddie Bauer and Frank and Oak, have announced store closures and even bankruptcy filings over the past year as consumer habits continue to shift.
“Our standout fourth quarter capped a year of strong sales growth and market share gains,” Greg Hicks, president and CEO of Canadian Tire Corporation, said in the earnings release.
“Customers visited us in greater numbers and we had one of the best holiday seasons in recent memory, a tribute to our retail readiness and the resilience of Canadian consumers in a year of economic uncertainty.”
Canadian Tire is the flagship banner name behind several other brands, including Sport Chek, Mark’s, Party City, Atmosphere, Sports Experts, Pro Hockey Life, Trio Hockey, PartSource and Canadian Tire Gas+, as well as financial services and a real estate investment trust.
The company’s Triangle Rewards loyalty program now extends across several of these brands and other business partnerships.
Canadian Tire Corporation said of its 12 million registered Triangle Rewards accounts, 9.8 million are considered “active,” which represents a six per cent increase from 2024.
Publicly traded companies are required by law to report earnings results on a regular basis to maintain transparency and accountability for shareholders.
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