Canadian Tire Announces New Five-Year Strategic Plan

(Akron/Tire Review) Canadian Tire has introduced its 2005-2009 strategic plan, which includes establishing up to 285 new and replacement retail stores, to shareholders.

The strategic plan, according to the company, focuses primarily on five “imperatives” for all business lines. They include: growing sales and revenues, improving earnings performance, embedding a “customers for life” culture, extending growth and performance beyond 2009 and enhancing “value creation” through “financial flexibility and maximisation of real estate assets.”

Additionally, five “key financial aspirations” for the company include: store sales growth of 3-4% annually, gross operating revenue growth of 7-9%, EBITDA growth, earnings per share growth of 12-15% and after-tax return on invested capital of 10% annually.