On the weaker side, Canadian Tire (TSX:CTC.A, Financial) declined 5.3% in the fourth quarter. The company announced good financial results with positive same store sales growth of 2.7%, increased its dividend, and rolled out a new Operational Efficiency program that will target over $200 million in annualized savings by 2022. However, shares fell in December following a report released by a US short-seller. We believe Canadian Tire will continue to experience healthy sales growth going forward given its efforts to expand e-commerce and its position as a retailer of choice in seasonal goods not typically purchased online (shovels, lawnmowers, etc.).
From Leith Wheeler Funds' fourth-quarter 2019 quarterly review.
