Business
Canadian Tire Corporation Expands Mark's Store Footprint Through Bed, Bath & Beyond Lease Acquisition
Canadian Tire Corporation Expands Mark's Store Footprint Through Bed, Bath & Beyond Lease Acq...
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[{"type":"text","content":"\n \n \n \n Canadian Tire Corporation Expands Mark's Store Footprint Through Bed, Bath & Beyond Lease Acquisition\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n Canadian Tire Corporation Expands Mark's Store Footprint Through Bed, Bath & Beyond Lease Acquisition\n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n May 2, 2023\n \n \n /CNW/ - Canadian Tire Corporation, Limited (TSX: CTC) (TSX: CTC.A) (\"CTC\" or the \"Company\") is increasing its store footprint through its agreement to acquire 10 strategic real estate leases, formerly held by Bed, Bath & Beyond in\n \n Canada\n \n for a final purchase price of\n \n $1.6 million\n \n .\n \n \n Acquiring these leases will enable CTC to continue building on the growth of its Mark's and Pro Hockey Life (PHL) banners. CTC has designated six of the ten leases acquired for Mark's relocations in\n \n Grande Prairie\n \n ,\n \n Medicine Hat\n \n ,\n \n Red Deer\n \n and Strathcona County (\n \n Alberta\n \n ),\n \n Langley\n \n (BC), and\n \n Oakville\n \n (\n \n Ontario\n \n ).\n \n \n \"Following our 10\n \n th\n \n consecutive quarter of growth in Q4 2022, Mark's is continuing to build on its incredible momentum in the Canadian market by strategically relocating six retail spaces to more convenient and larger sites,\" said PJ Czank, President, Mark's. \"These relocated stores will feature more products and deeper assortments of our best brands to meet the needs of our customers in\n \n Alberta\n \n ,\n \n British Columbia\n \n and\n \n Ontario\n \n .\"\n \n \n In addition to the Mark's relocations, the agreement will allow CTC to implement plans for four new Pro Hockey Life (PHL) stores in\n \n Ontario\n \n . The 10 leases combined represent more than 242,000 square feet of retail space.\n \n \n \n FORWARD-LOOKING STATEMENTS\n \n \n \n This press release contains information that may constitute forward-looking information within the meaning of applicable securities laws. Forward-looking information provides insights regarding management's current expectations and plans and allows investor...