Desjardins Capital Markets analyst Keith Howlett is telling Canadian Tire to get its act together on the e-commerce front.
In a note to clients, Howlett said the demise of Sears Canada increases the urgency for Canadian Tire to accelerate its digital push, as it will no longer have a weak big-box-competitor to steal sales from.
“Both Canadian Tire stores and Mark’s stores compete directly in some categories with Sears Canada,” Howlett wrote. “More importantly, 2018 is the year that Canadian Tire has to finally swim proficiently in the e-commerce pool, including in the deep end (delivery to home in all banners).”
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Roots Corp., the Canadian retailer known for its casualwear and leather goods, raised $200 million in its initial public offering after cutting the price below its targeted range, according to people familiar with the matter.
The Toronto-based retailer sold shares at $12 a piece, below its previously disclosed range of $14 to $16 each, said the people who asked not to be identified because the matter is private. The company still raised $200 million after selling shareholders increased the amount of shares offered, they said.