Canadian Tire flyer money, a loyalty program that began in 1958 and uses paper coupons that look like banknotes, is well-known. The business’s headquarters are in Toronto, Ontario, and the corporation is publicly traded on the Toronto Stock Exchange.
It is a signatory to the Retail Council of Canada’s voluntary Scanner Price Accuracy Code.
John William Billes and Alfred Jackson Billes invested $1,800 in the Hamilton Tire and Garage Ltd. (founded in 1909 as the Hamilton Garage and Rubber Company) in Toronto on September 15, 1922. Hamilton Tire and Garage specialized in purchasing tires from manufacturers at a discount throughout the winter and then reselling them during the busy summer season. In Toronto, Ontario, the brothers founded a retail establishment at Yonge and Gould streets.
The formation of the name Canadian Tire Corporation Limited in 1927 stressed a product emphasis on tires because, as A.J. Billes put it, “it sounded large.” The first Canadian Tire brochures, which included price lists and route maps, were delivered in 1928.
Walker Anderson founded the first official Associate Store on King Street in Hamilton, Ontario, in 1934. To support its expansion, Canadian Tire Corporation went public in 1944 and sold 100,000 shares. There were 110 Canadian Tire locations by 1945. Employee stock purchase plans were developed in 1946 to enhance employee loyalty while reducing the likelihood of unionization.
In 1958, at the junction of Yonge and Church streets in Toronto, the first petrol station opened. In 1958, Canadian Tire introduced money that allowed petrol station customers a discount in-store. There were 31 sites by June 1961. Midland Shoppers Credit Limited, a modest financial services firm, was bought in 1968 and renamed Canadian Tire Acceptance, Limited.
In Toronto, a Canadian Tire flyers shop with a service station opened in 1990. In 2001, Canadian Tire expanded into the clothes sector by purchasing Mark’s Work Warehouse.
Under Canada’s Bank Act, CTC formed the Canadian Tire Bank in 2003 from its then-named Canadian Tire Financial Services, Limited subsidiary and its Mastercard portfolio, which was then rebranded as Canadian Tire Services, Limited on January 1, 2015. In 2014, CTC sold 20% of its Canadian Tire Bank to Scotiabank.
Triangle Rewards was introduced in April 2018 as a substitute for the digital My Canadian Tire flyer Money program and the Options Mastercard. Customers without a rewards card may still get traditional paper Canadian Tire money, albeit at a lower rate.
Helly Hansen was acquired by the corporation in May 2018, allowing it to expand deeper into the apparel sector. The corporation operates 667 Canadian Tire weekly flyers shops, 397 SportChek locations, and 381 Mark’s stores as of December 2021. Greg Hicks is the current President and CEO.