TORONTO, Dec. 5, 2019 /CNW/ - Canadian Tire
Corporation (TSX:CTC, TSX:CTC.A) does not agree with the
conclusions in the report issued by Spruce Point Capital Management
earlier today regarding the Corporation's share value. The report
contains numerous inaccuracies, which we believe are solely
intended to benefit its author. It would be extremely unfortunate
if investors took action based on the report.
ABOUT CANADIAN TIRE CORPORATION
Canadian Tire
Corporation, Limited, (TSX: CTC.A) (TSX: CTC) or "CTC", is a family
of businesses that includes a Retail segment, a Financial Services
division and CT REIT. Our retail business is led by Canadian Tire,
which was founded in 1922 and provides Canadians with products for
life in Canada across its Living,
Playing, Fixing, Automotive and Seasonal & Gardening divisions.
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; SportChek, Hockey Experts, Sports
Experts, National Sports, Intersport and Atmosphere, which offer
the best active wear brands; and Party City Canada, a leading,
one-stop shopping destination for party supplies and seasonal
celebrations. The more than 1,700 retail and gasoline outlets
are supported and strengthened by CTC's Financial Services
division and the tens of thousands of people employed across
Canada and around the world by the
Company and its local dealers, franchisees and petroleum retailers.
In addition, CTC owns and operates Helly Hansen, a leading global
brand in sportswear and workwear based in Oslo, Norway. For more information, visit
Corp.CanadianTire.ca.
FOR MORE INFORMATION
Media: Jane Shaw,
416-480-8581, jane.shaw@cantire.com
Investors: Lisa Greatrix, 416-480-8725,
lisa.greatrix@cantire.com
SOURCE CANADIAN TIRE CORPORATION, LIMITED - INVESTOR
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