Canadian Tire to Restructure, Close Some Atmosphere Stores
Canadian Tire Corp. is implementing "True North," a new 4-year transformative growth strategy, where it will invest 2 billion Canadian dollars to restructure the company.
It also means some stores will close.
The Toronto-based retailer, whose banners include SportChek, Atmosphere, Party City and Marks, launched the plan March 6. True North will move the business from a holding company model to a more agile organization by aggregating its systems and data banners-wide.
A new senior leadership team is being installed, and the new plan will focus on data-driven customer relationships, core retail growth and an expanded Triangle Rewards loyalty program as it shifts away from silos, redundancies and costly back-office processes and systems.
The new operating model includes enterprise-wide capabilities and platforms built and deployed once — including the company’s recent conversion of all major banner websites onto a single digital platform. From there CTC will continue to hone its technology and AI, working to speed analytics, decision-making, information and workflows company wide.
Part of the quest for greater operational efficiency includes closing 17 Atmosphere stores that the company has deemed "uncompetitive." Fourteen of the stores will be relocated to SportChek stores throughout 2025. (Both banners sell , which sell apparel and outdoor gear.)
The new plan also includes the company optimizing its SportChek portfolio with new concept stores and an expanded loyalty program. CTC plans to do that through the addition of brand partners that issue Canadian Tire dollars and adding more Triangle Mastercard holders.
A restructured leadership team will guide the strategy, including:
- Susan O’Brien, formerly CTC’s chief brand and customer officer, who assumes the role of EVP and chief transformation officer.
- TJ Flood, who has been appointed EVP and chief operating officer. He was previously president of the Canadian Tire retail division and of SportChek.
- Darren Myers, who joins CTC April 1 as its new EVP and chief financial officer.
The company is also in the process of appointing an EVP and chief commercial officer, whose duties include scaling the Triangle Rewards program and shaping data-driven strategies for improved customer experiences.
The March 6 announcement comes weeks after CTC signed a nearly CA$1.3 billion deal to sell sportswear company Helly Hansen to Kontoor Brands, which owns Wrangler, Lee and Rock & Republic.
