Canadians will find an iconic
Stripes will be back in stores this holiday season as Canadian Tire Corp. introduces its version of the recently acquired brand.
Company executives said Thursday that its retail operation of The Bay's heritage collection will begin next month, when the famous four-color stripes appear on products including the blanket, which hits stores Dec. 5.
CEO Greg Hicks said the retailer worked with original Hudson's Bay suppliers to “maintain quality and craftsmanship.”
“Step by step, we're taking great care of this brand,” he said on Thursday's third-quarter earnings call. “We expect this first batch of products to fly off store shelves.”
Hicks added that a larger product presence will emerge in the second half of 2026.
In May, the company acquired the intellectual property of Hudson's Bay Co. ULC, including HBC stripes and other branding, for approximately $30 million.
Hicks said Canadian Tire will also revitalize its “general fund” by committing at least $1 million each year to Indigenous-led initiatives.
In its third-quarter results, the company reported retail revenue growth of 3.2% and 5.9% ex-oil.
“In a continuing dynamic consumer environment, we increased retail sales for the third consecutive quarter,” Hicks said.
For the quarter ended Sept. 27, the company's consolidated comparable sales rose 1.8 percent, with growth across all banners. This was supported by results from SportChek and strong performance in Ontario and Quebec by Canadian Tire Retail (CTR).
SportChek's comparable sales rose 4.2 percent in the third quarter, the fifth consecutive quarter, compared with the prior year. The “Back to School” and “Back to Hockey” sales drove sales growth, including sportswear and footwear, leisure footwear, and golf and hockey products.
Canadian Tire sales rose 1.2% on a like-for-like basis as stronger growth in Ontario and Quebec was partially offset by Alberta. The retailer said growth in discretionary sales outpaced sales of essentials for the first time since 2021.
Third-quarter revenue was $4.1 million, up three percent from $3.987 million last year. Normalized diluted earnings per share rose 6.5% to $3.78, beating analyst consensus of $2.84.
Net income decreased 13.3% to $191.3 million, compared with $220.7 million in 2024. Diluted earnings per share fell 11.8% to $3.13.
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